The Zhitong Finance App learned that on Tuesday, IBM (IBM.US) opened with a sharp drop of more than 25%, the biggest one-day decline since 1987, and is now reported at $215.95. According to the news, the preliminary quarterly sales results announced by IBM before the market fell short of Wall Street analysts' unanimous expectations. IBM said in a preliminary results statement that the company's second-quarter revenue is expected to be around US$17.2 billion, compared to the average Wall Street analysts' estimate compiled by the agency of about US$18 billion. According to the statement, sales of IBM's infrastructure business unit were particularly hard hit, and unexpectedly fell by about 7%. The company said it is still reviewing the accounts and the final results may be slightly different.
Zhitongcaijing · 1d ago
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The Zhitong Finance App learned that on Tuesday, IBM (IBM.US) opened with a sharp drop of more than 25%, the biggest one-day decline since 1987, and is now reported at $215.95. According to the news, the preliminary quarterly sales results announced by IBM before the market fell short of Wall Street analysts' unanimous expectations. IBM said in a preliminary results statement that the company's second-quarter revenue is expected to be around US$17.2 billion, compared to the average Wall Street analysts' estimate compiled by the agency of about US$18 billion. According to the statement, sales of IBM's infrastructure business unit were particularly hard hit, and unexpectedly fell by about 7%. The company said it is still reviewing the accounts and the final results may be slightly different.
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