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Benzinga
Benzinga
Business
Vandana Singh

IBM Spooks Investors With Sub-Optimal Outlook

IBM Arvind Krishna Memory
Ibm,Logo,On,Smartphone,Screen,With,Stock,Market,Graph,,New

International Business Machines Corp. (NYSE:IBM) on Tuesday released preliminary second-quarter results that fell short of its expectations, citing weaker-than-anticipated mainframe-related sales as customers shifted spending toward supply-constrained servers, storage, and memory infrastructure.

Following the announcement, the stock fell nearly 23%.

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