IBM shares fall after lackluster sales Fortune

News Source : Fortune

News Summary

First-quarter sales gained 1% to $14
5 billion, the company said
IBM also reiterated its previous outlook of $12 billion in free cash flow for the fiscal year
The shares declined to a low of $166
51 in extended trading after closing at $184
10 in New York

International Business Machines Corp. dropped about 9% in extended trading after the companys weak consulting unit sales disappointed investors, overshadowing its acquisition of software firm HashiCo [+3072 chars]

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