(Bloomberg) -- IBM shares fell after reporting second-quarter sales declines across all of its major business units, missing analysts’ estimates and marking the 13th straight period of falling revenue.

Profit excluding some items was $3.84 a share, International Business Machines Corp. said in a statement Monday, beating the $3.78 average projection from analysts as reduced administrative and research costs offset declines in its services and software businesses. That average had already been cut 4.7 percent from three months ago.

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