IBM Stock Holds Steady After Revenue Miss

IBM stock has held steady at $235.50 following its latest quarterly earnings report. The results showed revenue slipping below estimates, missing the mark of $17.46 billion with a figure of $17.16 billion.

The company delivered 1.1% year-over-year growth in revenue, but this was overshadowed by the missed estimate. Earnings per share matched the consensus at $2.93.

IBM's software portfolio remains its core business, and the company has leaned on recurring revenue and hybrid-cloud demand to support its results.