IBM revenue misses on weakness in legacy infrastructure unit

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 (Reuters) – IBM (IBM.N) on Wednesday missed market estimates for quarterly revenue as its managed infrastructure business suffered from a decline in orders ahead of a spinoff next month, sending its shares down 4% in extended trading.

The lower-margin, legacy unit provides technical support to IBM’s clients and has shrunk in recent years as companies moved to the cloud, becoming a drag on Big Blue’s earnings.

https://www.reuters.com/technology/ibm-revenue-misses-weakness-legacy-infrastructure-unit-2021-10-20/

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