IBM shares moved 3% lower after the company issued weaker-than-expected third-quarter revenue
A mainframe computer IBM introduced in the quarter could help the company return to growth in 2020.
IBM's biggest segment, Global Technology Services, which includes technology support services as well as infrastructure and cloud services, came up with $6.70 billion in revenue. That's down 5.6% from the year ago period and just below the $6.75 billion consensus estimate among analysts surveyed by FactSet.
The company's Global Business Services business, comprising includes application management, consulting and global process services, produced revenue of $4.12 billion, up 1% and in line with the FactSet consensus estimate.
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