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IBM Revenue Slips for Third Straight Quarter

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Key Points

  • IBM reported Monday that revenue slipped for the third consecutive quarter this year, causing shares to cede a little ground in after-market trades.
  • The US technology veteran said it took in $17.6 billion during the three months that ended on Sept. 30, compared to $18 billion in the same period a year earlier.
  • Net income, however, was up slightly to $1.7 billion as the company trimmed costs, according to the earnings report.
  • Visit The Financial Today’s homepage for more stories.

SAN FRANCISCO — IBM reported Monday that revenue slipped for the third consecutive quarter this year, causing shares to cede a little ground in after-market trades.

The US technology veteran said it took in $17.6 billion during the three months that ended on Sept. 30, compared to $18 billion in the same period a year earlier.

Net income, however, was up slightly to $1.7 billion as the company trimmed costs, according to the earnings report.

IBM shares were down 2.6 percent in after-market trades.

The New York-based company spotlighted growth in its cloud computing business, which saw overall revenue climb some 19 percent to $6 billion.

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