IBM income dips 4% in Q3: 4 things to know

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IBM posted financial results for the third quarter of fiscal year 2017 Wednesday, noting $2.7 billion in net income, a decrease of 4 percent from one year prior.

Here are four things to know.

1. The tech company posted a third quarter revenue of $19.2 billion, which represented no change year-over-year.

2. IBM's cloud revenue increased 20 percent to $4.1 billion. Cloud revenue over the last 12 months was $15.8 billion, which includes $8.8 billion delivered as-a-service and $7.0 billion for hardware, software and services that enable clients to implement the cloud solutions.

3. The company's diluted earnings per share dropped 2 percent to $2.92.

4. IBM's debt totaled $45.6 billion.

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