IBM announced its first quarter 2016 earnings on April 18, 2016. IBM reported $18.7 billion of revenues and $2.0 billion of net income. This may be the worst quarterly performance for IBM top-line (revenues) and bottom-line (net income). The following three charts explain it.
1. Q1 2016 is the weakest first quarter for IBM in terms of revenues during the last 14 years. IBM first quarter revenues during all the previous years since 2002 have been higher than Q1 2016 revenues.
2. IBM quarterly revenues have continued to witness negative year-on-year growth for last 16 consecutive quarters.
3. Q1 2016 is the the weakest first quarter for IBM in terms of net income during the last 9 years. IBM first quarter net income during all the previous years since 2007 has been higher than Q1 2016 net income.