IBM’s second-quarter revenues fell by 3pc to US$25.8bn. The technology giant reported a 6pc increase in profits of US$3.9bn.
Software revenues of US$6.2bn were flat and Global Technology Services revenues decreased 2bn to US$10bn. Hardware revenues were down 9pc to US$4.3bn.
The company said that currency negatively impacted revenue growth by about US$1bn.
“In the second quarter, we delivered strong profit, earnings per share and free cash flow growth. This performance reflects continued strength in our growth initiatives and investments in higher-value opportunities,” said Ginni Rometty, IBM president and chief executive officer.
“These are fundamental elements of our long-term business model.
“Looking ahead, we are well-positioned to deliver greater value to a wider range of clients and to our shareholders.
“Given our performance in the first half and our outlook for the second half, we are raising our full-year operating earnings per share expectations to at least US$15.10.”