IBM shares dropped over 23% following its Q2 earnings report, which showed profits and revenue below analyst expectations. CEO Arvind Krishna highlighted that the company's mainframe business, particularly the Z series with AI capabilities, underperformed due to clients shifting spending from software to hardware amid supply concerns. This unexpected weakness raised concerns about near-term returns on AI investments and impacted broader tech stocks. IBM's adjusted earnings were $2.93 per share on $17.2 billion revenue, missing estimates of $3.01 per share and $17.86 billion revenue, signaling challenges ahead for the tech giant.
Sperax, creator of the auto-yield stablecoin USDs and SperaxOS AI agent workspace, has become an official IBM Business Partner. This partnership combines Sperax's AI-driven DeFi technology with IBM's enterprise AI and cloud infrastructure, enabling r...
Ademi LLP has started an investigation into IBM for potential securities fraud related to inaccurate statements about its financial results and business operations. This follows IBM's recent admission that it struggled to adapt to shifts in corporate...
IBM's stock price dropped 25%, losing over $400 million in value for nearly 150,000 employees holding company shares in their 401(k) retirement plans. The sharp decline followed the company's warning that second-quarter earnings would fall short of e...
Cybersecurity stocks surged after IBM CEO Arvind Krishna highlighted cyber threats as a top concern for customers in the company's preliminary Q2 results. Krishna noted that some major deals were delayed as businesses reconsidered spending due to evo...
IBM reported it has struggled to keep up with a shift in corporate spending from software to data-center infrastructure, forecasting second-quarter earnings below analyst estimates. The company cited a significant reprioritization of capital expendit...
