IBM expected to exceed $100 billion in revenue by the end of the 1980s as it converted to a sales model, but struggled as the PC market emerged. Profit margins dropped below 10% by 1989 as revenue reached only $60 billion. In the 1990s, a new CEO reversed plans to break up IBM and grew the services business, with profit margins recovering to 8% by 1999 and revenue reaching $82 billion.