IBM's $17.2 Billion Preliminary Revenue Falls Short Of Wall Street
Software climbed 5 percent while infrastructure fell 7 percent, with Krishna disclosing both weeks ahead of the July 22 earnings call.
- Diluted earnings per share fell 2 percent to $2.27 under GAAP accounting standards.
- Red Hat revenue accelerated to 11 percent growth, the letter's lone bright spot.
- Krishna called the pressures 'not excuses, but they are realities,' his phrase for client shifts.
Why it matters: IBM grew revenue one percent and still missed: the forecast, not the year, sets the market's verdict.
IBM Newsroom — Arvind Krishna's Letter to IBM Investors ↗ · Jul 14, 20267/14/26 · ✓ Checked✓ Check