IBM posts profit below expectations

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IBM posts profit below expectations

IBM, world’s largest computer company, on Thursday posted quarterly profit and revenue that fell far short of Wall Street’s expectations as it blamed difficulties in closing key deals.

In a surprise statement, the Armonk, New York-based company reported a profit from continuing operations of $1.41 billion, or 85 cents a share, in the first quarter compared with $1.36 billion, or 79 cents a share, a year earlier.

Read the complete story. (Reuters)