14 DAY TRIAL // Advanced Micro Devices isn't the only one experiencing financial woes. IBM is too, although its problems aren't quite as pronounced.
The company has been forced to admit that it has been doing rather poorly in the sales execution department.
In other words, IBM missed a few good deals, which caused an impact on revenue during the first quarter of 2013.
Revenue was of $23.4 billion / €17.88 billion, down 5% overall and 3% in constant currencies from the same quarter last year.
"Despite a solid start and good client demand we did not close a number of software and mainframe transactions that have moved into the second quarter," IBM Chairman, President and CEO Ginni Rometty said in statement.
Oddly enough, cloud revenue grew by a lot, 70% to be precise. It is an indicator that the segment, as a whole, is advancing.