POPA ReconIBM preliminary performance shock
IBM preliminary performance shock IBM's stock price plunged after it released preliminary second-quarter results earlier than expected. Revenues were $17.2 billion, software grew 5%, but infrastructure fell 7% and adjusted EPS fell short of market expectations. IBM explained that existing software contracts were delayed as customers prioritized budget allocation to AI infrastructure such as servers, storage, and memory. Increasing AI spending = the case that not all technology companies benefit
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