IBM revenue declines for a third straight quarter

Tech major IBM reported revenue of $17.6 bn during the quarter ended on Sept. 30, compared to $18 bn in the same period last year, slipping for the third consecutive quarter this year. Net income, however, was up slightly to $1.7 bn. IBM’s cloud computing business rose to 19% to $ 6 bn. IBM recently regrouped to focus on cloud computing by spinning off its division for managed infrastructure to ramp up competition with markets leaders — Amazon, Microsoft and Google.

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