IBM posts lowest quarterly revenue in five years

April 19, 2014 2:55 am

IBM Corp, the world’s biggest technology services firm, has posted its lowest quarterly revenue in five years, as it struggles with falling demand for its hardware and faces challenges in growth markets like China, Reuters has reported. Revenue fell 4% to $22.5bn in the first quarter, the lowest the company reported since the first quarter of 2009, when revenue was $21.71bn. IBM has been restructuring its business and laying-off workers in efforts to achieve its targeted operating earnings of $20 per share by 2015.