IBM Turnaround Questioned on Slow Growth of New Businesses
- Revenue was flat, excluding boost from weaker U.S. dollar
- Profit margins continued to narrow in the first quarter
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IBM’s one-quarter growth streak is already in doubt.
Shares of the technology company fell in early trading after it reported narrower profit margins and no revenue growth, excluding help from a weak U.S. dollar. That cast a shadow over an effort to sell more-profitable cloud-based software to revive growth after five years of revenue declines.