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IBM stock tumbles 23% in premarket trading as preliminary quarterly results fall below expectations

IBM shares tumbled sharply in premarket trade after the company flagged weaker-than-expected second-quarter results, missing both profit and revenue estimates. Management attributed the shortfall to delayed deal closures and shifting client spending toward hardware ahead of price hikes, while cybersecurity concerns further weighed on performance during the quarter.

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Economic TimesLean R·2h ago
IBM stock tumbles 23% in premarket trading as preliminary quarterly results fall below expectations
IBM shares tumbled sharply in premarket trade after the company flagged weaker-than-expected second-quarter results, missing both profit and revenue estimates. Management attributed the shortfall to delayed deal closures and shifting client spending toward hardware ahead of price hikes, while cybersecurity concerns further weighed on performance during the quarter.
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IBM stock tumbles 23% in premarket trading as preliminary quarterly results fall below expectations

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