International Business Machines Corp's software business grew less than expected in the second quarter, sparking a selloff in the company's stock on Thursday, even as its revenue beat forecasts. The company's software business revenue grew 1 percent in the quarter to $6.5 billion, slower than forecasts of 3 percent, as it signed fewer contracts than expected. "We expect acceleration of software revenue to mid-single digits in second half of 2014," IBM Chief Financial Officer Martin Schroeter said on a conference call after the results were released.
No comments:
Post a Comment