IBM Says Second-Quarter Sales Missed as Customers Pulled Back
International Business Machines Corp. reported preliminary quarterly sales results that missed analysts estimates with Chief Executive Officer Arvind Krishna saying customers were holding back spending.
The shares dropped.
IBM Shares Plunge 25% on Revenue Warning
- IBM shares drop more than 17% after company warns second-quarter earnings fell short of expectations CNBC —
- IBM warns AI boom is squeezing software budgets RTE —
- IBM shares plunge 25% as AI spending boom hammers business: ‘Ugly moment for software stocks’ NY Post —
- IBM’s warning sows anxiety for investors Semafor —
- IBM shares plunge as it forecasts second-quarter revenue below estimates The Globe and Mail —