IBM shares fell more than 23% at market open on July 14, 2026, following the company's second-quarter earnings report, which showed profits and revenues below analysts' expectations. CEO Arvind Krishna attributed the shortfall to underperformance in the company's Z mainframe business, particularly in transaction processing software. IBM reported adjusted earnings of $2.93 per share on $17.2 billion in revenue, missing Wall Street's estimates of $3.01 per share and $17.86 billion in revenue. Krishna noted that clients shifted their capital expenditures towards hardware purchases in response to anticipated price increases, impacting buying patterns. The decline in IBM's stock has affected the broader tech sector, with companies such as ServiceNow, Salesforce, and Microsoft also experiencing stock declines.
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IBM Reports Earnings Miss, Shares Drop Over 23%
IBM's stock dropped over 23% after the company reported second-quarter earnings that missed expectations. CEO Arvind Krishna indicated that the shortfall was due to weak performance in the Z mainframe business and a shift in client spending towards hardware. This decline has had a negative impact on the tech sector overall.
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IBM Reports Earnings Miss, Shares Drop Over 23%