IBM revenue drops 3% from a year ago in last quarter under Rometty [CNBC]
International Business Machines Corporation (IBM)
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Source: CNBC
"Looking at the first quarter, through February we were tracking roughly in-line with our expectations," IBM finance chief Jim Kavanaugh said on a conference call with analysts on Monday. "As we got into March, the health situation and resulting social distancing became more widespread. As you would expect, we saw noticeable change in client priorities. With that, there was effectively a pause, as clients understandably dealt with their most pressing needs. This was most pronounced in our software business, where the vast majority of transactions typically close-in the last two weeks of the quarter."Krishna also joined Monday's quarterly conference call with analysts, following years of predecessor Ginni Rometty being absent on those calls."My approach is straightforward," Krishna said. "I am going to focus on growing the value of the company. This includes better aligning our portfolio around hybrid cloud and AI [artificial intelligence] to meet the evolving needs of the market. We w
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