IBM Misses on Revenue Again; Shares Plummet in After-Hours Trading (IBM)

IBM (IBM) was among several blue chips to report after the bell today, though it did not fare as well as some of its peers.

Analysts had been expecting EPS of $3.96, a figure that IBM beat with a reading of $3.99. It was the predicted revenues of $24.77 billion where IBM fell short, noting $23.7 billion in that category. Shares slumped as much as 6% in after-hours trading, as a drop in revenue is a trend that has been worrying investors.

IBM’s grip on emerging markets has been slipping, with revenues declining this past quarter in key markets overseas. Now, the firm has shown declining revenues in each of the last six quarters, causing quite the sell-off of its stock.

IBM shares had been up $2.07, or 1.11%, when markets closed Wednesday. With the losses in after-hours trading, IBM’s stock is down more than 5% this year.