IBM is on a cold streak.
The tech giant reported its second-quarter earnings on Tuesday and said its revenue declined roughly 5% since Q2 2016. As this chart from Statista shows, that was its 21st straight quarter of year-over-year revenue decline.
To keep things in perspective, IBM still generated $US19.3 billion in revenue this past quarter. The company is trying to pivot its focus to areas like cloud computing, and those “strategic imperatives,” as IBM calls them, have generally been a boon of late — though growth did slow this past quarter, prompting a stock fall. Its cloud business grew 15% year-over-year, though.
Still, the company remains tied to the legacy computing businesses — like selling PC workstations and servers — that made it a giant in the first place. Those segments will likely continue to drag down its bottom line going forward. Change is hard when you’re huge.
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