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It wasn’t the result that speculators were likely anticipating. Although International Business Machines (IBM) delivered the goods for the first quarter, investors rushed for the exits. In terms of raw numbers, the subsequent selloff in IBM stock appears strange. The legacy tech giant posted 9.5% year-over-year growth to $15.92 billion while delivering adjusted earnings per share of $1.91, beating out analysts’ consensus targets.
However, shareholders were looking for a bit more juice, particularly from the company’s Software segment. In addition, management decided to maintain full-year guidance, likely in a bid to be prudent amid uncertainties related to the Iran war. Subsequently, IBM stock responded negatively to the somewhat pensive attitude, with shares down almost 9% in the trailing five sessions.
