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IBM Stock Suffers Worst Single-Day Drop in 39 Years After Q2 Revenue Miss

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IBM's stock plunged to its worst performance in nearly four decades after the company reported preliminary second-quarter revenue below analyst expectations. CEO Arvind Krishna publicly acknowledged that IBM had failed to close several large deals within expected timelines. The shortfall was partly driven by a shift in client spending away from software toward hardware products. This reallocation of enterprise budgets benefited hardware manufacturers while putting pressure on software-focused firms like IBM. Internal execution failures across teams were cited as a key factor behind the missed deals.

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IBM Stock Suffers Worst Single-Day Drop in 39 Years After Q2 Revenue Miss · ShortSingh