IBM Pre-Announces Q2 Revenue Miss Amid AI Budget Shifts
IBM pre-announced a disappointing second-quarter revenue miss, with total revenue growing just 1% year-over-year to $17.2 billion and falling short of expectations. The decline in infrastructure revenue was particularly notable at -7%, signaling shifting technology budgets away from traditional systems like IBM's z17 mainframe toward AI investments.
Tickers: $IBM
Topics: AI Budget Shifts Earnings Miss IBM