NEW YORK: : The US Securities and Exchange Commission (SEC) is investigating how IBM recognised revenue for certain deals in the US, Britain and Ireland, the company has revealed.
IBM, the world’s largest technology services company, said it learned of the investigation in August and was co-operating with the SEC, but did not disclose what deals were being probed.
An IBM spokesman said the company had a “rigorous and disciplined process” for its reporting of revenue. Shares of IBM fell as much as 4.4 per cent to a five-year low of $137.33 and closed down 4 per cent in the US last night.
