IBM Shares Slip on Quarterly Sales Decline, No Outlook
- CEO highlights enterprise opportunity in hybrid-cloud market
- ‘Healthy’ pipeline of business in current quarter, CFO says
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International Business Machines Corp. shares fell the most in four months after the company failed to provide an earnings outlook and reported its ninth consecutive quarter of declining or flat sales.
While IBM’s third-quarter revenue beat analysts’ forecasts, investors are looking for signs that the planned spinoff of its legacy infrastructure unit will resuscitate growth. Shares dipped as much as 6.7% in New York on Tuesday, the most since June.