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.
Get the latest IBM stock price here.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.