International Business Machines Corporation Investigation
Company: International Business Machines Corporation
Ticker: (NYSE) IBM
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Investigation Details
On July 14, 2026, International Business Machines Corporation shares fell more than 24% after IBM released preliminary second-quarter 2026 results well-below market expectations.
On April 22, 2026, IBM’s Chief Financial Officer, James J. Kavanaugh, told investors to expect the “accelerating Software business … to grow 10-plus percent this year,” and that management “prudently continue[d] to expect Infrastructure revenue to be down low single digits this year.”
By July 14, 2026, results had fallen well shy of these projections. Revenue of $17.2 billion was up only 1% on the back of a 5% increase in Software revenue, shy of growth expectations. On the other side of the coin, Infrastructure revenue fell 7% by the preliminary report, a faster fall than the Company had projected only one quarter before.