IBM first quarter slips, below expectations

IBM’s first-quarter net income and revenue declined due to delays in closing several of the technology company’s large software and mainframe computer deals. The results fell short of Wall Street’s expectations, sending IBM’s stock lower in after-hours trading.

IBM is seen as a good gauge of technology demand because it sells to major companies and governments around the world. That said, it’s not immune to economic uncertainty and currency fluctuations, which were evident in the quarterly results.

via Business feed http://www.scmp.com/business/companies/article/1218091/ibm-first-quarter-slips-below-expectations