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IBM quarterly revenue misses on weak mainframe computer business

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Christian Fernsby |
IBM
IBM   This marks the third consecutive quarter of declining revenue

IBM’s revenue was down almost 5% from the year-ago quarter, according to a statement.

This marks the third consecutive quarter of declining revenue year over year.

Previously, IBM had a streak of 22 consecutive quarters of annualized revenue declines that ended in 2017.

IBM reiterated its guidance of at least $13.90 in earnings per share, excluding certain items, for all of 2019.

Analysts had been looking for $13.91 in earnings per share, excluding certain items, for the full year, according to Refinitiv.


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