IBM Stock Falls As Management Slashes Guidance

October 20, 2015 7:41 AM

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International Business Machines Corp.(NYSE:IBM) stock fell by nearly 4% today in wake o f the company’s disappointing results for the third fiscal quarter and lowered guidance for the full year. For the three months ending September IBM’s revenue declined 14% year-over-year (YoY) to $19.3 billion below a consensus estimate of $19.63 billion.

Software revenue amounted to $5.1 billion reflecting a YoY decline of 10%. Middleware products including WebSphere, Information Management, Tivoli, Workforce Solutions and Rational products were the main contributors. Collective revenue from Middleware products amounted $3.4 billion showing a YoY de...

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