UPDATE 2-IBM reports lowest quarterly revenue in 5 years as hardware sales fall
* First-qtr revenue falls 4 pct to $22.5 bln
* Shares decline 4 pct in extended trading (Adds details from conference call, analyst comment' updates shares)
By Supantha Mukherjee and Soham Chatterjee
April 16 (Reuters) - IBM Corp reported its lowest quarterly revenue in five years as the company struggles with falling demand for its storage and server products.
Shares of the world's largest technology services company fell about 4 percent to $188.20 in after-hours trade.
Total revenue fell 4 percent to $22.5 billion in the first quarter, below analysts' average estimate of $22.91 billion.
"They have had eight revenue declines in a row. They have missed so many times, it's hard to keep track of it," said Fred Hickey, editor of The High-Tech Strategist newsletter, which is widely read by investors.
IBM reported revenue of $21.71 billion in March 2009.
Revenue from the hardware business, which includes servers and systems storage, plunged 23 percent to $2.4 billion. Continuación...