IBM Reports Declines in Fourth-Quarter Profit and Revenue Despite Gains in New Fields - The New York Times

Transition timing tbd

"The corporate computing giant reported declines in fourth-quarter profit and revenue. Its results were depressed by a strong dollar. But even without the currency impact, IBM is struggling as its new growth areas like data analytics and cloud computing are not yet big enough to overcome the slippage in its traditional hardware, software and services businesses.

“IBM says this is all part of the transition process, and it may well be,” said A. M. Sacconaghi, an analyst at Sanford C. Bernstein & Company. “But as far as evidence that the transition is really taking hold, we haven’t seen that yet.”"

IBM Reports Declines in Fourth-Quarter Profit and Revenue Despite Gains in New Fields - The New York Times