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IBM revenue misses estimates as hardware sales fall

17
Apr
2014

(Reuters) – International Business Machines Corp reported lower-than-expected quarterly revenue as weakness in its storage and server businesses continues to offset gains in its software services. Total revenue fell 4 percent to $22.5 billion in the first quarter, below analysts average estimate of $22.91 billion. The worlds largest technology services companys net profit fell to $2.38 billion, or $2.29 per share, from $3.03 billion, or $2.70 per share, a year earlier. On an adjusted basis, the company earned $2. …

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