Total revenue for the quarter ending 30 June dropped by 0.4 per cent to USD 15.48 billion, falling short of analysts average estimate of USD 15.58 billion, , ibm corp, ibm, quarterly results
IBM misses Q2 revenue estimates as tech spending cools rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.
Enterprise software provider IBM's second-quarter revenue fell short of Wall Street expectations on Wednesday, bogged down by a decline in sales of its mainframe computers as businesses cut tech spending. IT companies have warned of more pain as businesses striving to cut costs in the face of rising inflation snip tech budgets, hurting the industry that saw rapid growth during the COVID-19 pandemic when businesses rushed to adopt hybrid work. IT majors such as Accenture and India's Tata Consultancy Services have also flagged demand weakness, with the former missing market estimates for quarterly revenue last month after its North America revenue grew at its slowest rate in about three years.