IBM Sales Fall For 12th Quarter

If only IBM had some kind of giant supercomputer that could tell them what to do.

International Business Machines Corp reported a 12 percent fall in first-quarter revenue as the technology company continues to shed unprofitable businesses to focus on cloud-computing initiatives. Shares in the world's largest technology services company flitted around the unchanged mark in after-hours trading.

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For the last couple of years, the tech community has been wondering what IBM has been producing besides consultants. They off shored most of their labor (even some of the consultants) and killed most their of the hardware and software either through neglect or outright cancellation. Saying they are focusing on "cloud" sounds great, but you have to have cloud products that people actually want and I am no longer sure what those are.

They make Lotus Notes/Domino.

They code it with pure hatred.

As much as I like the big blue, their own arrogance and over-priced systems are probably what's ultimately killing them.

Considering they've been using their money to not invest in capex but rather stock buybacks like ever other company in America in this bizarro 0 interest rate economic environment, allow me to say HAA-HAA.

Their stock price is doing really well for not performing well.

Germanium said:

Their stock price is doing really well for not performing well.

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As I said they are using their money to buy back their shares and they have been doing it since 2010