IBM misses revenue estimates, weighed down by legacy businesses

 IBM Corp on Tuesday reported a lower-than-expected quarterly revenue, as growth in its higher-margin businesses that include cloud and artificial intelligence services failed to make up for declines across legacy business segments. IBM's shares fell 3 percent to $149.15 in after-market trading. Armonk, New York-based IBM has in recent years shifted focus to pockets of growth across its business - high-margin areas such as cloud, cybersecurity and data analytics - to counter a slowdown in its hardware and software businesses. Revenue from these initiatives, which IBM calls "strategic imperatives," rose 5 percent in the second quarter ended June 30. Future & Option Trading Tips