IBM Stock Predictions: Revenues Are Bottoming Out
For the 12th straight quarter, International Business Machines Corp. saw its revenue drop compared to the year-earlier period. Total revenue from the quarter fell to $19.6 billion from $22.2 billion, while net income fell slightly to $2.33 billion from $2.38 billion. The consistently diminishing revenues have partially been a result of efforts by CEO Ginny Rometty to transform the business. The company has maintained for years that it would struggle while transforming the business, but actual results have still not occurred. This could change later this year, as the signs are finally there for IBM to start organically growing its revenue after the transformation.
