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Actionable news in IBM: INTERNATIONAL BUSINESS MACHINES CORPORATION,

Strong dollar helps IBM as earnings growth remains wanting

Computer giant IBM Corp. ( (IBM - Get Report) ) on Monday said revenue slipped 4.6% in the first three months of 2016 as efforts to remake itself into a provider of Internet-based services have failed to thwart competition and declines elsewhere.

Although revenue beat analyst expectations, profit slipped 13% to $2.09, the same amount forecast by analysts. Still, the company said it would stick to its January forecast of full-year profit of "at least $13.50."

IBM has been working to transform into a provider of big data, analytics and business services over the web. The company said it spent the lion's share of $3.6 billion in investment in the first quarter buying up 10 smaller rivals to boost its business.

"We will continue to invest as we transform our operations, expanding our industry expertise and our cognitive and cloud capabilities," said IBM...


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