IBM Shares Plunge 25% on Revenue Miss as Client Spending Shifts to Infrastructure
IBM shares plunged 25% to mark the company's biggest intraday drop since 1968, following a preliminary second-quarter earnings warning that erased more than $55 billion in market value. Revenue of $17.2 billion missed the $17.86 billion analyst consensus, driven by a shortfall in both software and infrastructure sales that Chief Executive Officer Arvind Krishna said the firm failed to anticipate.
From the sources (25 posts)
@zerohedge*IBM RELEASES PRELIMINARY 2Q RESULTS huh?
@zerohedgeMay as well get the bad news out asap *IBM PRELIM 2Q REV. $17.2B, EST. $17.86B Stock plunging
@zerohedge*IBM SINKS 14% AFTER 2Q PRELIMINARY REVENUE MISSES ESTIMATE
@stockmktnewz$IBM JUST REPORTED PRELIMINARY Q2 EARNINGS AND ITS DOWN 15% 🔴 IBM just said for Q2 it brought in - Revenue of $17.2 billion up 1% YoY - Software revenue up 5% - Consulting revenue flat, up 1% at constant currency - Infrastructure revenue
@zerohedge*IBM CEO: SAW CLIENTS SHIFT QUARTERLY CAPEX SPEND IN JUNE *IBM CEO: THIS DYNAMIC IMPACTED CLIENT BUYING PATTERNS *IBM CEO: SAW CLIENTS SHIFT QUARTERLY CAPEX SPEND IN JUNE *IBM CEO: DID NOT ANTICIPATE MAGNITUDE OF CAPEX REPRIORITIZATION *IBM
@zerohedge*IBM CEO: DID NOT ANTICIPATE MAGNITUDE OF CAPEX REPRIORITIZATION well oops
@firstsquawkIBM SINKS 14% AFTER 2Q PRELIMINARY REVENUE MISSES ESTIMATE
@zerohedge*IBM CEO: CLIENTS WERE DISTRACTED WITH CYBERSECURITY CONCERNS it's the clients fault we had to preannounce a total disaster
@zerohedgeIBM SET FOR THE WORST DAILY CRASH SINCE THE BURSTING OF THE DOT COM BUBBLE
@stockmktnewzHere is a full letter $IBM CEO Arvind Krishna just sent to investors: "I want to spend some time explaining what we experienced in the quarter that led to the Software and Infrastructure performance shortfall you see above. When we discus
@sonalibasakBrutal showing by IBM. The direct acknowledgment that clients have shifted AI capex spend toward core infrastructure — the question is how long the “reprioritization” lasts.
@alphasenseincArvind Krishna's Letter to $IBM Investors For the second quarter revenue: - Revenue of $17.2 billion, up 1 percent - Software revenue up 5 percent - Consulting revenue flat, up 1 percent at constant currency - Infrastructure revenue down
@kalshiJUST IN: IBM stock drops -15% pre-market after earnings miss
@wallstengine$IBM released preliminary Q2 results BELOW internal expectations as mainframe and software sales disappointed, with large deals failing to close on expected timelines. CEO: “This quarter we faltered.” Revenue: $17.2B vs $17.86B est. 🔴, up
@firstsquawkIBM SHARES EXTEND DECLINE, LAST DOWN 17.3% PREMARKET
@thetranscript_IBM’s preliminary Q2 26 results fall short of its expectations CEO: "...we did not anticipate the magnitude of the capex reprioritization. In addition, clients were distracted with rapidly-evolving, industry-wide cybersecurity concerns in
@thetranscript_More from the $IBM CEO: "In the last few weeks of June, we saw clients shift their quarterly capex spend toward servers, storage, and memory purchases to secure supply-constrained infrastructure ahead of expected price increases. This dynam
@wallstengineSAASOCALYPSE 5.0!? $IBM CEO Arvind Krishna: “In the last few weeks of June, we saw clients shift their quarterly capex spend toward servers, storage, and memory purchases to secure supply-constrained infrastructure ahead of expected pric
@kakashiii111"...we did not anticipate the magnitude of the capex reprioritization." Remember this sentence. It’s going to be used by some company CEOs in the near future.
@businessIBM reports preliminary quarterly sales results that missed analysts estimates. Shares drop in early trading
@briansozziCEO Arvind Krishna: "hen we discussed our expectations with you in April, we noted that we would be wrapping on the launch of z17 in the second quarter. Given this was the strongest start to a mainframe program in our history, we expected
@firstsquawkMICROSOFT SHARES FALL 2.8% PREMARKET AFTER IBM'S PRELIM RESULTS
@stockmktnewz"In the last few weeks of June, we saw clients shift their quarterly capex spend toward servers, storage, and memory purchases to secure supply-constrained infrastructure ahead of expected price increases. This dynamic impacted client buyin
@techmemeIBM reports preliminary Q2 revenue of $17.2B, below $17.9B est., as CEO Arvind Krishna says customers are holding back spending; IBM falls 17% pre-market (@athomson6 / Bloomberg) (Visit Techmeme dot com for the link and full context!)
@kobeissiletterBREAKING: IBM stock, $IBM, collapses nearly -20% after posting weaker than expected earnings due to “weakness in the software and infrastructure business.” The stock just erased -$55 billion in market cap.