Thursday after reporting results that showed strong profit while also suggesting that economic uncertainty and US government cost cuts may dent the company’s business.First-quarter sales increased almost 1% to $14.

International Business Machines said 15 of its government contracts were shelved under a cost-cutting drive by the Trump administration, a setback that eclipsed its upbeat revenue forecast and dragged its shares down over 6% after hours.

We’ve had a handful of contracts, either statement of work, or cancel and on our annualized backlog of over $30 billion in total consulting”