Major services company IBM turned in its financial fourth quarter figures last night, and the news wasn’t all that good.
IBM made net profit in its fourth quarter of $5.5 billion, compared to $6.2 billion in the same quarter of 2013. That’s a fall of 11 percent.
Revenues in the fourth quarter amounted to $24.1 billion, down 12 percent compared to the year before.
However, if this figure includes divestments including customer care outsourcing and System x businesses, as well as currency fluctuations, IBM calculus the decrease is two percent.
Gini Rometty, IBM chairman and CEO, claimed her company had made significant progress in changing its business to higher value services.
Global services fell by eight percent, while technology services also fell by eight percent. Business services revenues also fell by eight percent. Revenues from its software fell seven percent.