By Hannah Pedone and Tomi Kilgore
Tech bellwether releases preliminary results a week before earnings were expected, showing revenue and profit misses
IBM's stock plunges after a preliminary release of profit and revenue that were well below Wall Street's expectations.
Shares of IBM were suffering a record selloff on Tuesday, after the technology giant surprised investors by releasing second-quarter results a week ahead of schedule, showing both profit and revenue missing analysts' consensus expectations.
The problem was the launch of the z17 mainframe program, which the company expected to be wrapping up during the second quarter.
