| IBM |
Report |
2Q26 revenue |
MISS |
pred ~$17.20B vs. cons $17.86B |
HIGH |
| IBM |
Report |
2Q26 operating EPS |
MISS |
pred ~$2.93 vs. cons $3.01 |
HIGH |
| IBM |
Report |
2Q26 software revenue growth |
MISS |
pred ~5.0% vs. cons 7.0% |
HIGH |
| IBM |
Guide |
FY26 constant-currency revenue growth |
LOWER |
guide ~3.5% vs. cons 5.0% (FY26) |
MEDIUM |
| IBM |
Guide |
FY26 free cash flow |
LOWER |
guide ~$14.7B vs. cons $15.7B (FY26) |
MEDIUM |
| IBM |
Guide |
FY26 software revenue growth |
LOWER |
guide ~8.0% vs. cons 10.0% (FY26) |
MEDIUM |
| IBM |
Guide |
FY26 consulting revenue growth |
LOWER |
guide ~1.0% vs. cons 3.0% (FY26) |
MEDIUM |
| IBM |
Return |
Day-1 residual (stock − beta × S&P 500) |
-7.5% |
— |
MEDIUM |
| IBM |
Return |
5-day cumulative residual |
-11.0% (FOLLOW-THROUGH) |
Follow-through lower: pred FY26 revenue growth ~3.5% vs. prior 5.0% and FCF ~$14.7B vs. ~$15.7B imply substantial 2H and out-period estimate cuts, while a ~5.0% software-growth print vs. 7.0% consensus weakens confidence that the Z/Transaction Processing shortfall is purely timing. |
MEDIUM |