IBM Shares Plummet as Revenue Misses Estimates

IBM shares fell by 2.5% on Thursday, down to $234.0550 from a previous high of $239.94.

The decline in share price is attributed to a mix of factors, including revenue that missed expectations and an ongoing investigation into potential securities-law violations.

The company's latest quarterly results showed revenue of approximately $17.16 billion, which fell short of the consensus estimate of $17.46 billion.

This modest 1.1% year-over-year revenue growth has reinforced concerns that IBM's AI and hybrid-cloud investments are not yet accelerating overall growth.