This week, International Business Machines Corporation (NYSE:IBM) shares took a hit following the news surrounding its preliminary second-quarter results, which fell short of expectations.This disappointing performance was attributed to a shift in client capital spending and execution issues, marking the worst single-day loss in the company’s history with a drop of 25.21%.Q2 Prelim Results MissIBM pre-announced its preliminary second-quarter results, revealing earnings of $2.93 per share, far lower than the consensus estimate of $3.02.The company reported revenue of $17.2 billion against a Street estimate of $17.9 billion, leading to a significant drop in share price earlier this week.Launches AI-Powered Power SystemsOn Wednesday, IBM launched new AI-powered Power systems and Software aimed at helping enterprises automate IT operations, improve productivity and run AI workloads more efficiently.The launch includes the Power S1112 server, Power Autonomous Operations and Bob Premium Package for i.IBM said the Power S1112 will be generally available on July 24, while Power Autonomous Operations is expected to launch on Sept. 23. The company said the autonomous Software can resolve capacity constraints up to 15 times faster than manual intervention.IBM Earnings Preview And Analyst Price TargetsThe countdown is on: International Business Machines is set to report earnings on July 22, 2026 (confirmed).