IBM Reports Q2 Revenue of $17.16B, Misses Software Forecast and Cuts Full-Year Growth Outlook

IBM-2.12%
IBM reported second-quarter revenue of $17.16 billion. Software revenue reached $7.76 billion, missing the analyst consensus of $7.99 billion, while consulting revenue came to $5.33 billion versus the expected $5.39 billion. The company trimmed its full-year revenue growth guidance to 4%-5% on a constant-currency basis, down from its prior projection of approximately 5%.
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