IBM's sales grew for the first time in 5 years

IBM has finally broken its years-long losing streakAfter reporting sales declines for 22 cons...

Posted: Jan 19, 2018 10:05 AM
Updated: Jan 19, 2018 10:05 AM

IBM has finally broken its years-long losing streak

After reporting sales declines for 22 consecutive quarters (about five and a half years), Big Blue finally posted revenue growth -- by a very slim margin. Sales grew 1% last quarter.

IBM said it expects sales growth to continue in this quarter and throughout 2018.

"We are pleased with our overall revenue growth in the quarter," said Ginni Rometty, IBM chairman, president and chief executive officer, on Thursday.

IBM has struggled in the past few years because of a shift in the technology landscape. But its investment in the cloud and other more dynamic and rapidly growing areas of tech, has helped the company's performance.

Revenue from the company's cloud business grew by 27% in the fourth quarter. IBM's cloud unit represents more than a fifth of the company's total sales.

Related: IBM gets a boost from low taxes and cloud computing

"During 2017, we strengthened our position as the leading enterprise cloud provider and established IBM as the blockchain leader for business," Rometty said.

But one quarter of 1% growth wasn't enough to convince investors that IBM has succeeded in turning its fortune around. Shares were down by as much as 4% after the market closed on Thursday.

One major IBM investor has recently soured on the company. Warren Buffet said in May that he's ditched a third of his stock, explaining, "I don't value IBM the same way that I did six years ago when I started buying."

IBM also reported a one-time $5.5 billion hit from changes to the tax law, just like many major American companies. IBM is a multinational company, and it actually expects its effective tax rate to rise in 2018.

-- CNNMoney's Paul R. La Monica contributed reporting to this story.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 306538

Reported Deaths: 5435
CountyCasesDeaths
Marion41953849
Lake26872453
Allen17621295
Elkhart16905219
St. Joseph16524223
Hamilton12696167
Vanderburgh9552115
Tippecanoe844927
Porter813785
Johnson6231165
Vigo597979
Hendricks5944156
Monroe530349
Clark504077
Madison4858121
Delaware4820103
LaPorte457194
Kosciusko455739
Howard334975
Warrick319572
Floyd311477
Bartholomew308462
Wayne301367
Cass295831
Marshall293744
Grant262949
Noble249846
Hancock246551
Boone240254
Henry240237
Dubois234631
Dearborn215730
Jackson212633
Morgan204443
Gibson181725
Knox181419
Shelby178254
Clinton177821
Lawrence174047
DeKalb172829
Adams166422
Wabash158020
Miami157814
Daviess154643
Fayette147733
Steuben143513
Jasper142111
Harrison141824
LaGrange140129
Montgomery139027
Whitley133412
Ripley128114
Decatur124643
Huntington123510
Putnam123027
Randolph120719
Wells120428
White120321
Clay119822
Posey119616
Jefferson116216
Scott103219
Greene101353
Jay96413
Starke90621
Sullivan88916
Fulton83518
Jennings83214
Spencer8198
Perry81521
Fountain7738
Washington7417
Franklin68626
Carroll67913
Orange66628
Vermillion5993
Owen5987
Parke5606
Newton55312
Tipton55226
Rush5317
Blackford51912
Pike50318
Pulaski37710
Martin3515
Benton3362
Brown3353
Crawford2881
Union2671
Switzerland2555
Warren2382
Ohio2307
Unassigned0266

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 371840

Reported Deaths: 6100
CountyCasesDeaths
Franklin50231667
Cuyahoga36047741
Hamilton29931372
Montgomery20065228
Butler14769146
Lucas14317414
Summit13388316
Stark8792197
Warren819175
Mahoning7276299
Lake682666
Lorain643499
Clermont577248
Delaware556436
Licking549276
Fairfield538464
Trumbull5305147
Greene522364
Clark511464
Allen465485
Marion465251
Wood4491107
Medina447756
Miami425867
Pickaway399348
Columbiana347297
Portage344872
Tuscarawas328658
Wayne318793
Richland316638
Mercer289945
Hancock241337
Ross240759
Muskingum240210
Auglaize231031
Putnam224749
Erie224266
Darke223559
Ashtabula223253
Geauga203351
Scioto195915
Union19118
Shelby190615
Lawrence189438
Athens18864
Seneca180018
Belmont164929
Madison158918
Sandusky154229
Preble152621
Huron152318
Defiance139522
Holmes139139
Logan127816
Knox126318
Fulton124525
Washington121927
Crawford121516
Ottawa121130
Clinton106714
Williams10579
Ashland105222
Highland101317
Jefferson10124
Henry100023
Brown9925
Champaign9475
Jackson93112
Hardin91019
Fayette90317
Van Wert8976
Morrow8882
Guernsey83914
Coshocton82613
Perry78712
Adams78313
Pike7451
Gallia73513
Wyandot71216
Paulding64611
Hocking62616
Noble60223
Carroll45710
Meigs39012
Monroe31821
Morgan2575
Vinton2195
Harrison2023
Unassigned00
Fort Wayne
Overcast
46° wxIcon
Hi: 52° Lo: 45°
Feels Like: 44°
Angola
Overcast
45° wxIcon
Hi: 47° Lo: 43°
Feels Like: 40°
Huntington
Overcast
47° wxIcon
Hi: 53° Lo: 44°
Feels Like: 45°
Decatur
Overcast
46° wxIcon
Hi: 54° Lo: 46°
Feels Like: 41°
Van Wert
Overcast
46° wxIcon
Hi: 53° Lo: 46°
Feels Like: 41°
Rain Continues Wednesday
WFFT Radar
WFFT Temperatures
WFFT National

Community Events