Shares of International Business Machines Co. were falling in after-hours trading Wednesday after investors were left unimpressed by growth in its software division during the latest quarter.

IBM

IBM reported software revenues of $7.2 billion for the September quarter, in line with the FactSet analyst consensus. The company’s hybrid-cloud revenue, which includes Red Hat, was up 14%; automation revenue was up 24%; data revenue was up 8%; and transaction processing was down 1%.