IBM stock falls nearly 3% following a 25% drop triggered by weaker-than-expected preliminary second-quarter results.
IBM shares declined $5.79, or nearly 3%, on Wednesday, deepening a selloff after the company reported disappointing preliminary second-quarter earnings. The drop follows a 25% plunge on Tuesday, marking one of the steepest single-day declines for the stock in recent years.
Prior to the release, analysts had anticipated stronger performance, though specific consensus estimates were not disclosed. The company’s preliminary results fell short of market expectations, prompting the sharp reaction.
The extended decline reflects investor concerns over IBM’s near-term outlook and revenue trajectory amid broader tech sector volatility.