 After two consecutive years of reporting losses in excess of $1 billion, on January 19, 1993, IBM announced a US$8.10 billion loss for the 1992 financial year, which was then the largest single-year corporate loss in U.S. history.All told, between 1991 and 1993, the company posted net losses of nearly $16 billion.IBM's three-decade-long Golden Age, triggered by Watson Jr. in the 1950s, was over.