April 16 International Business Machines Corp
reported lower-than-expected quarterly revenue as
weakness in its storage and server businesses continues to
offset gains in its software services.
Total revenue fell 4 percent to $22.5 billion in the first
quarter, below analysts' average estimate of $22.91 billion.
The world's largest technology services company's net profit
fell to $2.38 billion, or $2.29 per share, from $3.03 billion,
or $2.70 per share, a year earlier.
On an adjusted basis, the company earned $2.54 per share, in
line with analysts' average estimate, according to Thomson
(Reporting by Supantha Mukherjee in Bangalore; Editing by