(Reuters) - International Business Machines Corp
Shares of the world's largest technology services company, which reported its 13th consecutive fall in quarterly revenue, fell 4 percent in after-market trading.
IBM is deep in transition, and has been selling businesses such as low-end servers, cash registers, and semiconductors to focus on high-growth areas like security software, cloud services and data analytics.
The company, which sold its x86 server business to Lenovo Group Ltd <0992.HK> last year, continued realigning its operations with the sale of its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc this month.
The Armonk, New York-based company's total revenue fell to $20.81 billion in the second quarter ended June 30, from $24.05 billion a year earlier, missing the average analyst estimate of $20.95 billion, according to Thomson Reuters I/B/E/S.
IBM, which gets more than half its revenue from overseas, said its quarterly results were also hurt by a strong dollar.
The dollar <.DXY> has risen more than 21 percent against a basket of currencies in the past 12 months.
Consolidated net income dropped to $3.45 billion, or $3.50 per share, for the second quarter ended June 30, from $4.14 billion, $4.12 per share, a year earlier.
Excluding items, IBM earned $3.84 per share, beating the average analyst estimate of a profit of $3.78 per share.
Up to Monday's close, IBM's shares had risen about 8 percent this year.
(Reporting by Abhirup Roy in Bengaluru; Editing by Simon Jennings)
