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IBM misses revenue targets again after stumbling in China

22
Jan
2014

IBM missed revenue expectations for the fourth straight quarter as it grappled with weakening demand for servers and storage in emerging markets such as China. Shares in the worlds largest technology services company fell 3.5 percent to $181.68 in after-hours trade. Chief Executive Officer Ginni Rometty and her team will forego their annual incentive payments for 2013 as IBM failed to increase revenue. Particularly in China, the government-owned corporations that IBM relies on for a large chunk of revenue are putting the brakes on IT spending.

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