Friday, 24 March, 2023

IBM revenue declines for a third straight quarter

<p>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&#39;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.</p>