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IBM Sales, Profit Take Big Dip

IBM announced Monday it experienced lower profits and sales for the third quarter.
IBM announced Monday it experienced lower profits and sales for the third quarter. Photo Credit: File photo

ARMONK, N.Y. – Armonk-based IBM experienced a sharp decline in profits and sales during the third quarter, leading some to wonder if IBM can keep up with a changing market, reports the New York Times .

Analysts say IBM is struggling to offset the loss of some of its software, hardware and services businesses – the company’s software business revenue dropped 3 percent and its net profit dropped 14 percent.

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