tumbled by more than 7% in pre-market trading on Friday, after the computing giant's fourth-quarter earnings missed analysts' expectations.
Sales at the technology company's biggest unit, cloud and cognitive software, fell around 4.6% to $6.84 billion from $7.16 billion in the same quarter a year earlier. Excluding certain costs, IBM's earnings per share was $2.07 in the fourth quarter, above expectations of $1.79. "This put additional pressure on larger software transactions this quarter, and project delays in some services engagements.
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