IBM shares plunge 25% after weak Q2 results and profit warning

IBM shares fell more than 25% on Tuesday after the company released disappointing preliminary second-quarter results, putting it on track for its steepest single-day drop since Black Monday in 1987. Revenue for the three months ending in June came in at $17.2 billion, up just 1% year-over-year. IBM issued a profit warning, blaming shifts in corporate customers' spending, and the sell-off spread to Microsoft and the broader software sector.

Do IBM's weak results signal a broader crisis in the tech sector?

The Guardian Business · 11d ago · Source ↗

Comments

No comments yet

🔥 Hot right now

IBM shares plunge 25% after weak Q2 results and profit warning

Comments

Comments

You're all caught up

Scroll like on TikTok