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IBM reports its sixteenth straight quarter of losses and their worst revenue in 14 years. Watson voluntarily checks into rehab

The business technology giant has seen its revenue shrink continuously since the second quarter of 2012. Under CEO Ginni Rometty, IBM has been attempting to reposition itself as a leader in cutting edge technologies including data analytics and cloud computing through a series of high-profile acquisitions, including most recently The Weather Company and Truven Health.

From Sweta Killa, an analyst at Zacks Investment Research:

Investors should note that this is the company’s worst quarterly revenue seen in 14 years as new strategic business lines like cloud computing, big data and mobile security failed to make up for the slowdown in traditional business like hardware, software and services sales. However, its strategic and high growth business now accounts for 37% of total revenue given that IBM has been transforming its business from the low-margin ones such as cash registers, low-end servers and semiconductors to strategic growth areas over the past three years.