IBM Result 21/10/2014

IBM posted a third quarter net profit of $3.5 billion on turnover of $22.4 billion, which compares with a net profit of $4.1 billion on turnover of $23.3 billion in the third quarter of last year. In the first nine months of the year, IBM’s net profit was $10.2 billion on turnover of $68.7 billion, while for the corresponding period of last year saw IBM record a net profit of $10.7 billion on turnover of $71 billion. IBM’s CEO and president, Ginni Rometty, said: “We are disappointed in our performance. We saw a marked slowdown in September in client buying behaviour, and our results also point to the unprecedented pace of change in our industry”.