IBM reported Q2 adjusted earnings of $2.93 per share and revenue of $17.2 billion, missing analyst forecasts of $3.01 per share and $17.86 billion revenue. CEO Arvind Krishna cited a shift in client spending from software to hardware like memory chips, causing delays in closing large deals and impacting results. The stock fell over 17% in premarket trading as the company acknowledged it did not adapt quickly enough to changing customer priorities. This shortfall highlights challenges in IBM's infrastructure business amid supply chain constraints and shifting capital expenditures.
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...
