IBM is on a cold streak.
The tech giant reported its second-quarter earnings on Tuesday and said its revenue declined roughly 5% since Q2 2016. As this chart from Statista shows, that was its 21st straight quarter of year-over-year revenue decline.
To keep things in perspective, IBM still generated $19.3 billion in revenue this past quarter. The company is trying to pivot its focus to areas like cloud computing, and those “strategic imperatives,” as IBM calls them, have generally been a boon of late – though growth did slow this past quarter, prompting a stock fall. Its cloud business grew 15% year-over-year, though.
Still, the company remains tied to the legacy computing businesses – like selling PC workstations and servers – that made it a giant in the first place. Those segments will likely continue to drag down its bottom line going forward. Change is hard when you’re huge.
- Mike Nudelman/Business Insider/Statista