IBM revenue declines for 19th quarter

IBM continues to struggle with its fourth quarter financial results for 2016, even as its more recent operations gain traction.

In Q4 of FY 2016, IBM's total revenue was $21.8 billion, down 1 percent year over year, and its net income was $11.9 billion, down 11 percent year over year. This quarter marks IBM's 19th consecutive quarter of declining revenue, according to The Wall Street Journal.

In its financial report, IBM focuses on what it calls its "strategic imperatives," which include newer initiatives like analytics, artificial intelligence and cloud computing. Revenue from IBM's strategic initiatives totaled $9.5 billion in Q4 and $32.8 billion in full FY 2016, representing 41 percent of IBM's total revenue.

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