IBM Reports Full Year 2013 Earnings
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IBM reported its fourth quarter and full year fiscal 2013 results late Tuesday, showing continued declines in its hardware business, as software and cloud initiatives move the other way.
For the quarter, IBM reported revenue of $27.7 billion, which is a five percent year-over-year decline. Net Income for the quarter was reported at $6.2 billion for a six percent year-over-year gain. For the full year, IBM's 2013 revenue was reported at $99.8 billion for a five percent decline, with Net Income of $16.5 billion for a one percent decline.
The area of largest weakness for IBM was its hardware business.