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Ibm Reports Lowest Quarterly Revenue In Five Years As Hardware Sales Fall

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A man walks past the headquarters of IBM Japan in TokyoIBM Corp reported its lowest quarterly revenue in five years as the company struggles with falling demand for its storage and server products. They have missed so many times, it's hard to keep track of it," said Fred Hickey, editor of The High-Tech Strategist newsletter, which is widely read by investors. Revenue from the hardware business, which includes servers and systems storage, plunged 23 percent to $2.4 billion. The company has been restructuring its business by cutting jobs and selling its low-end server business to Chinese PC maker Lenovo Group Ltd for $2.3 billion in January.




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