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IBM Sinks After 18th Consecutive Revenue Drop; Margins Miss; EPS "Beats" On Tax Rate Fudge

After 17 consecutive quarters, or more than 4 years, of declining annual revenue growth, there were some whispers that this could be the quarter IBM finally breaks the trend. Alas, it was not meant to be, and just after the close, IBM reported Q3 revenues of $19.226BN, which will beating consensus of $19.0BN, was still 0.3% lower than a year ago, marking the 18th consecutive quarter of declining revenues.
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