IBM Slumps As China Problem Takes Hold

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IBM Slumps As China Problem Takes Hold

International Business Machines Corp. (NYSE:IBM) earnings arrived yesterday after the bell rang to close the day on Wall Street. The information technology company beat expectations on earnings, but missed out on revenue by a whopping $1 billion. The release left the company’s shares reeling. At time of writing, shares in IBM are down more than 5 percent for Thursday’s trading.

IBM Slumps As China Problem Takes Hold

Sales across the board appeared to have been down for International Business Machines Corp. (NYSE:IBM) in the third quarter of the year. America was flat, Europe was down a little and Asia Pacific was down a great deal. The company’s biggest worry, however, is China. Sales in the Asian giant dropped 22 percent year on year.

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IBM’s China problem