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IBM set to report earnings after the bell

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Analysts are expecting IBM's revenue to be down year over year for the third quarter in a row.

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The estimate implies that analysts expect IBM's revenue to be down 3.2% from the year-ago quarter. This would be the third consecutive quarter in which revenue declined from a year ago. Previously, IBM had a streak of 22 consecutive quarters of annualized revenue declines that ended in 2017. In the first quarter IBM said it had sold its mortgage-servicing business to Mr. Cooper Group, and it said that later that this year it would wind down its business of providing working capital to certain kinds of information-technology companies.IBM's acquisition of Red Hat for $34 billion is expected to close in the second half of this year.

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