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IBM lowers full-year forecast after earnings warning
IBM on Wednesday lowered its 2026 forecast and delivered thinner quarterly profits than analysts had projected, even after the technology vendor issued an earnings warning last week. Shares rose 1% in extended trading, as IBM said it aims to widen its full-year pre-tax margin by about 1 percentage point through higher productivity.
IBM's revenue grew 1% year over year in the quarter, according to a statement. Net income of $2.17 billion, or $2.30 per share, decreased from $2.19 billion, or $2.36 per share, a year ago. Adjusted earnings exclude acquisition-related adjustments.
Management called for 4% to 5% in constant-currency revenue growth for 2026. As recently as April, IBM had been looking for over 5% at constant currency. The company reiterated expectations for $1 billion in higher free cash flow for the year.
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