IBM shares slide after preliminary Q2 revenue misses estimates; earnings set for July 22
AI Market Summary
IBM's preliminary Q2 update showed a material revenue and EPS miss versus consensus, with management citing client capex shifts, execution issues, deal slippage, and customer cybersecurity concerns. The miss triggered analyst target cuts and at least one downgrade, reinforcing negative positioning ahead of the July 22 earnings release. Technicals remain weak (downtrend, negative MACD, and an existing death cross), keeping near-term risk sentiment pressured.
Impact level
● Medium
Affected assets
NCSKIBMR2USD/USDT-0.92%
AI Insight · NCSKIBMR2USD/USDTAI Insight
▼ Bearish
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IBM issued a preliminary update for its second-quarter results on Tuesday, reporting revenue of $17.2 billion versus Wall Street estimates of $17.9 billion and earnings of $2.93 per share versus $3.02. The company attributed the shortfall to a late-quarter shift in client capital spending toward memory, execution issues, large-deal slippage and customer cybersecurity concerns. Several investment banks cut price targets and adjusted ratings, including HSBC downgrading the stock to Reduce from Hold.
