IBM preannounced weaker-than-expected Q2 results, triggering its largest single-day stock decline on record.
IBM stock fell 25% in its worst single-day drop after the company released disappointing preliminary Q2 earnings. CEO Arvind Krishna called the results “disappointing,” citing weaker-than-expected performance across key segments.
The sell-off followed a surprise preannouncement, catching Wall Street off guard. Analysts had anticipated stronger figures, with prior consensus estimates exceeding the reported results. The decline extended to broader software and IT services stocks, which also faced downward pressure.
Shares traded slightly lower in early Wednesday trading as investors digested the news, though the broader market reaction remained muted beyond the tech sector.