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MarketWatch First Take: IBM at least has improved predicting its declining revenue

IBM Corp. reported another decline in quarterly revenue, closing out a year in which it got better about predicting its financial results, after a long string of earnings misses from 2011 to 2015.

On Thursday, the tech giant reported fourth-quarter results that beat Wall Street estimates, even as it reported a decline in revenue for the 19th consecutive quarter. Investors, though, were less concerned about IBM’s beat than the continuation of the declining revenue trend, and its shares fell 2.22% in after-hours trading.

While IBM’s core businesses, such as hardware and services, have been in decline, it has been focused on ramping up new growth initiatives in software and cloud computing, many of them geared around its artificial-intelligence technology and Watson cognitive computing system.

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