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Hardware torpedoes IBM's Q4 revenue

2014-01-22 01:27:08| InfoWorld: Top News

Still hampered by slow hardware sales, IBM reported a 5.5 percent decline in revenue for the fourth quarter, even as it managed to post a 6 percent gain in net income. Because of the sluggish revenue, IBM senior management will forgo their bonuses, or "personal annual incentive payments," for the year, said Ginni Rometty, IBM chairman, president and CEO, in a statement.

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