IBM revenue falls, highlighting challenges as it shifts course

New York

IBM is advancing rapidly into new fields such as data analytics, cloud computing and mobile applications. And while the technology company's second-quarter results showed encouraging progress in those businesses, it was not enough to translate into growth for the company as a whole.

Virginia Rometty, IBM's chief executive, declared months ago that 2015 would be a year of transformation with ambitious initiatives and formidable challenges. The second-quarter performance showed both forces at work.