IBM Shares Are Plunging After Reporting 20th Straight Revenue Decline

IBM's revenue from cloud, mobile and data crunching rose 13% but that was not enough to offset the sluggish growth at the older businesses.

Author:: Jane King
Publish date:: Apr 19, 2017 7:31 AM EDT

IBM's (IBM) - Get Report revenue from cloud, mobile and data crunching rose 13% but that was not enough to offset the sluggish growth at the older businesses. IBM shares are falling after it reported a 20th consecutive quarter of revenue decline. Verizon (VZ) - Get Report and Yahoo! (YHOO) are waiting till nearly the last minute to close their buyout deal. Yahoo says it expects it to close in June. Meanwhile, Yahoo's revenue jumped 22% in what is likely its last quarterly report as an independent company. Facebook (FB) - Get Report CEO Mark Zuckerberg says the social media giant will delve deeper into augmented reality, a combination of digital and physical spaces. Facebook announced at the F8 conference it will allow 3rd parties to create custom masks, filters and other effects. Early partners include Nike, Electronic Arts and Warner Brothers.