IBM Falls Most in Four Years After Quarterly Earnings Disappoint
- Revenue fell 2.1 percent, ending short streak of sales gains
- Big Blue struggles in cloud market dominated by Amazon
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International Business Machines Corp. shares dropped the most in four years Wednesday after the company missed analysts’ quarterly revenue estimates, ending a short-lived streak of sales gains and casting doubt on its strategy to boost growth through new businesses like cloud and artificial intelligence.
The stock tumbled as much as 8.1 percent to $133.43 in New York, bringing losses so far this year to 12 percent.