Tuesday, October 20, 2015

IBM Sales and Profit Dropped 14% in Third Quarter - The New York Times

Another challenging quarter for IBM

"But investors and analysts are concerned that the decline at IBM’s large, lucrative businesses may accelerate faster than the new businesses grow. Until the new businesses account for more overall growth, those worries will most likely persist.

“The math is working against them now,” said Frank Gens, chief analyst at IDC. “Modest declines in the older business overshadow the new businesses.”

At IBM, Mr. Schroeter acknowledged the challenge. “The core is declining in a declining market,” he said. “We never said it would be a straight line.”"
IBM Sales and Profit Dropped 14% in Third Quarter - The New York Times
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