Tech Company IBM Down on Wall Street

The IBM stock fell sharply at the opening on Wall Street on Friday. The tech company was put on sale by investors after its quarterly update.

 

This showed that the revenue decline in the closing quarter of 2020 was more profound than what was taken into account.

According to professionals, the smaller figures mean that CEO Arvind Krishna’s planned restructuring may take lengthier than planned.

In the final quarter of 2020, sales fell 6.5 percent to $ 20.4 billion. This intended the tenth quarter in a row that revenues were subordinate. The IBM share lost extra than 10 percent.