Armonk's IBM Sees Big Drop In Revenue

ARMONK, N.Y. -- IBM, which houses its headquarters in Armonk, has seen a drop in revenue and profit over the second quarter of 2015, according to The New York Times.

IBM reported a 17 percent decline in net income to $3.5 billion according to The New York Times.
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by Jason Bisnoff

07/21/2015 5:00 p.m.

The revenue decline of 13 percent comes despite significant gains in new sectors of business, the report said.

IBM often falls on both the winning and losing end of technological trend changes but a notable shift that has cost the company is the shift in how software is delivered, from the traditional interface to remote data centers, eroding IBM's sales in that division by 10 percent or 3 percent with currency impact, according to the report.

Click here to read the full story in The New York Times.

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