Tech giant IBM needs to reverse this unfortunate trend in its business
IBM has been a heavyweight in the tech world for more than a century, but the computing hardware and software businesses that made it a giant are now dragging it down.
That continued this most recent quarter, as the company reported weaker-than-expected revenue and saw its shares fall roughly 5% as a result. As this chart from Statista shows, the company has been dealing with this for a good while now: IBM has now posted 20 consecutive quarters of declining revenue.
It's not all bad, though. The company has been forced to spend billions pivoting into more promising segments like cloud computing, AI, and security software, as the internet helped make its old businesses less relevant. Many of those businesses are doing better - and, to put things in perspective, the company did still generate $18.16 billion in revenue this past quarter - but not enough to stop those red bars from piling up.
Mike Nudelman/Business Insider/Statista
Get the latest IBM stock price here.
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- A millennial manager went viral after her Gen Z assistant picked up a work call while at the hair salon: 'Go off queen'
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings