Branch² Intelligence
IBM shares drop more than 17% after company warns second-quarter earnings fell short of expectations
Key takeaway
IBM Q2 earnings miss: $2.93 EPS vs $3.00 expected, revenue $17.2B, shares -17%.
- Step 1IBM reports Q2 earnings miss, shares drop 17%.
- Step 2Enterprise IT spending shifts toward memory chips, pressuring IBM's legacy hardware/services revenue.
- Step 3Memory chip suppliers raise prices due to demand surge, increasing input costs for US SMEs reliant on storage.
Source: CNBC
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