Computer giant IBM is being held back by its consulting business.
In the past quarter, revenue increased by 1% year-on-year to around $14.5 billion, missing analysts' expectations, the company said as it announced its first quarter results on Wednesday.
The share price fell by around 9% at times in after-hours trading on Wednesday. Meanwhile, the bottom line profit rose to $1.6 billion from $934 million a year earlier.
Together with the presentation of the quarterly figures, IBM also announced the acquisition of multi-cloud infrastructure automation company HashiCorp. The deal is worth some $6.4 billion.