International Business MachinesIBM
▼ NegativeCapitalrelevance
IBM reported preliminary Q2 revenue of $17.2B, missing estimates of $17.9B, causing shares to sink 24%.
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International Business MachinesInternational Business Machines reported preliminary second-quarter revenue of $17.2 billion, missing analysts' estimates of $17.9 billion, sending shares down 24% premarket to $220. CEO Arvind Krishna said clients shifted spending toward supply-constrained infrastructure ahead of expected price increases, and the company failed to close numerous large deals on expected timelines. Among the 554 ETFs holding IBM shares, the FT Vest Technology Dividend Target Income ETF and First Trust NASDAQ Technology Dividend Index Fund each have an 8.49% weighting, the highest exposure.
International Business MachinesIBM reported preliminary Q2 revenue of $17.2B, missing estimates of $17.9B, causing shares to sink 24%.