IBM Pre-Announces Q2 Miss: Revenue $17.2B, Adjusted EPS $2.93, Shares Plunge 23%
IBM is trading near its 52-week low of $212.34 (6.8% above the low).
Summary
IBM pre-announced disappointing Q2 results, with revenue of $17.2B (up 1%) and adjusted EPS of $2.93 (up 5%), both missing analyst expectations of $17.86B and $3.01. Software revenue fell 5%, consulting was flat, and infrastructure dropped 7%, driven by a shortfall in Z mainframe performance and associated software. CEO Arvind Krishna cited clients shifting capex toward supply-constrained infrastructure and cybersecurity distractions, which delayed large deal closures. This follows the earlier Dow Jones report of the pre-announcement but adds adjusted EPS, segment details, and CEO commentary. Shares are down 23.2% in pre-market trading, reflecting the severity of the miss and weak guidance implications.
At the time of this announcement, IBM was trading at $226.75 on NYSE in the Technology sector, with a market capitalization of approximately $272.8B. The 52-week trading range was $212.34 to $332.46. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: ShareCast.