RE: Net income
2007: US$13.5B
2008: US$15.9B
2009: US$17.0B
2010: US$18.1B
2011: US$20.2B
2012: US$21.0B
2013: US$20.3B
2014: US$18.5B
2015: US$15.6B
2016: US$13.1B
Margins are around the same during this period.
Considering aquisitions, disposals and overall leadership, I'm not sure where future growth is coming from but accept IBM is more about accounting than IT so am sure they will find a way...