New York

INTERNATIONAL Business Machines Corp (IBM) forecast second-quarter profit that fell short of analysts' projections, signalling its multi-year effort to become a purveyor of cloud products and technology using artificial intelligence won't soon stop its four-year sales slump.

About 38 per cent to 39 per cent of the company's full-year earnings forecast of at least US$13.50 per share will come in the first half, chief financial officer Martin Schroeter said on Monday. That projects to about US$2.78 to US$2.92 a share, compared with the US$3.45 average of analysts' estimates compiled by Bloomberg.