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IBM Falls More Than 13% in Pre-Market Trading as Preliminary Second-Quarter Revenue Falls Short of Expectations
Svmuu News: IBM shares fell more than 13% in premarket trading. The company’s preliminary second-quarter revenue fell short of expectations, coming in at $17.2 billion—up 1% year-over-year—compared to estimates of $17.86 billion; software revenue rose 5%, while infrastructure revenue fell 7%. Diluted earnings per share were $2.27, down 2% year-over-year; non-GAAP operating earnings per share were $2.93, up 5% year-over-year.
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