IBM reduces annual sales outlook
IBM announced its financial results for the second quarter of 2026, recording revenues of $17.16 billion, a modest increase of just 1% compared to the previous year, and below analysts' expectations of $17.58 billion. The results also showed a decline in demand for mainframe computer business, leading the company to lower its full-year sales outlook, now expecting revenue growth of 4-5% instead of over 5%. The CFO projected that software segment sales would grow between 6-8%. Following the announcement, the company's shares rose approximately 2%, despite having fallen 31% over the year.
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