IBM stock sees worst in 39 years, CEO Arvind Krishna admits to investors that the company 'failed' to close large deals; says: In the last few weeks of June, we saw …
IBM's stock experienced a historic collapse on Wall Street after missing financial expectations.
Preliminary second-quarter revenue fell short as clients shifted spending towards hardware.
Chief Executive Arvind Krishna acknowledged the company's failure to adapt quickly enough.
Internal teams faltered, causing numerous large deals to miss expected timelines.
This shift benefited hardware manufacturers while impacting software providers.
IBM Shares Plunge 25% on Revenue Warning
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