WS #12080
IBM shares plunged ~25% after issuing a rare preliminary earnings warning (Q2 adj. EPS $2.93 vs est. $3.01, revenue $17.2B vs $17.86B), its worst day since 1987, wiping out ~$60B in market cap; CEO cites client spending shift to AI hardware.
IBM Earnings Warning and Tech Selloff
IBM shares plunged ~25% after issuing a rare preliminary earnings warning (Q2 adj. EPS $2.93 vs est. $3.01, revenue $17.2B vs $17.86B), its worst day since 1987, wiping out ~$60B in market cap; CEO cites client spending shift to AI hardware.