By Britney Nguyen and Hannah Pedone

“What played out was worse than our expectations,” CEO Arvind Krishna warned investors.

July 14 : IBM sparked a market rout on Tuesday after forecasting second-quarter revenue below estimates and signaling that businesses were favoring spending on data-center…

July 14 : IBM's preliminary second-quarter revenue forecast came below Wall Street estimate on Tuesday, as customers prioritized spending on AI infrastructure, including servers,…

July 14 : IBM said it had "faltered" in keeping pace with a shift in corporate spending from software to data-center infrastructure and forecast second-quarter earnings below…

CEO blamed the shortfall on weakness in the software and infrastructure business because clients shifted money toward hardware purchases.

IBM stock dropped nearly 20%, erasing $55 billion in market cap after an earnings miss driven by software and infrastructure weakness. What it means for

IBM stock tumbled after the company published its earnings ahead of schedule and acknowledged a "disappointing" quarter.

IBM shares plunged over 20% on Tuesday and the company led a massive market rout after forecasting second-quarter revenue below estimates and signaling...

Der IT-Konzern verfehlte im zweiten Quartal deutlich seine Umsatzerwartungen. IBM-Chef Krishna gibt zu, sich nicht schnell genug an KI-Infrastruktur angepasst zu haben.

Empresa de software enfrentou forte desvalorização após anunciar resultados do segundo trimestre

Software investors have long been on edge over fears that AI tools capable of automating routine work could pose an existential threat to the industry. Tuesday's announcement…

Software stocks were hammered after IBM pre-announced weaker-than-expected Q2 financial results. Shares in IT services firms also fell.

IBM warns AI infrastructure spending is hurting software budgets as revenue misses estimates, sending IBM shares and software stocks sharply lower.

CEO Krishna: Customers blew their Z budgets on servers and storage before prices spike, Q2 financials 'disappointing'

CEO Krishna: Customers blew their Z budgets on servers and storage before prices spike, Q2 financials 'disappointing'

IBM shares plunged more than 23 per cent on Tuesday after the tech giant warned that customers were diverting spending

"This redirection of budgets towards AI has been a topic that Karl Keirstead/team have been articulating as a potential risk for some time..."

IBM stock price crash: IBM shares tumbled on Tuesday after the company indicated that its second-quarter revenue would likely fall short of Wall Street expectations. Based on…

IBM issued preliminary Q2 results showing revenue of $17 billion, below analyst estimates, as clients shifted spending and large deals failed to close.

Software and IT service stocks are under pressure as investors fret the proliferation of AI will reduce demand for their services. Read more