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The Guardian - US

Technology

Blake Montgomery, Julia Kollewe and agencies

IBM loses quarter of its value as tech giant’s shares plunge and profits falter

IBM Microsoft Chris Beauchamp

A large blue IBM banner hangs on the New York Stock Exchange facade, framed by palm fronds — Signage for IBM outside the New York Stock Exchange on 7 July 2026 in New York City. Photograph: Erik Pendzich/Shutterstock

Shares in IBM plunged more than 25% on Tuesday after the US tech giant released disappointing preliminary second-quarter results. IBM’s stock was on track for an even steeper single-day decline than it suffered during ⁠the 1987 “Black Monday” crash.

IBM had issued a profit warning and blamed shifts in corporate customers’ spending. The company said revenue for the three months ending in June came in at $17.2bn, up just 1% year-over-year.

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