IBM shares plummet 25% on weak preliminary earnings
AI Summary
IBM's stock took a significant dive as it reported weaker-than-expected preliminary earnings for the second quarter, with a 25% drop in share prices. The company's revenue estimate of $17.2 billion fell short of analyst predictions by $660 million, and adjusted earnings per share also missed the mark. This downturn highlights broader concerns about IBM's performance and could signal potential challenges in its core business areas, making it a significant event for investors and tech industry watchers.
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