IBM Shares Plunge 26% After Preliminary Revenue Warning

Earnings Impact 4
โดย The Motley Fool·Read original
Summary · why it matters

IBM shares fell 26% after the company issued preliminary results that missed analyst expectations, marking its worst single-day drop ever. The company warned that second-quarter revenue would come in at about $17.2 billion, short of the $17.9 billion consensus, and earnings per share of $2.93 versus expectations of $3.02. CEO Arvind Krishna attributed the shortfall to clients shifting capital expenditures toward hardware servers, memory, and storage in the last weeks of June, raising concerns about whether the trend is temporary or a longer-term problem for IBM. The full earnings report is due on July 22.

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