IBM revenue slides about 12 percent

Reuters News
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Posted: Apr 20, 2015 4:12 PM

(Reuters) - International Business Machines Corp reported an about 12 percent fall in first-quarter revenue as the technology company continues to shed unprofitable businesses to focus on cloud-computing initiatives.

Net income fell slightly to $2.33 billion, or $2.35 per share, for the quarter ended March 31, from $2.38 billion, or $2.29 per share a year earlier.

The world's largest technology services company's total revenue fell to $19.6 billion from $22.2 billion.

(Reporting by Bill Rigby and Lehar Maan in Bengaluru; Editing by Saumyadeb Chakrabarty)