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IBM stock is falling as investors digest its last earnings report before the spinout of its Kyndryl managed IT services arm in early November.
Results for the third quarter were largely in line with Street estimates, though revenue was on the weak side. IBM (ticker: IBM) reported revenue of $17.6 billion, up 0.3%, a little below the Wall Street analyst consensus forecast of $17.8 billion. Adjusted for currency and divested businesses, revenue was up 0.2%.