IBM (NYSE: IBM) pre-reported its Q2 2026 earnings on July 14, revealing projected revenue of $17.2 billion, which fell short of analyst expectations of $17.9 billion. This resulted in a historic one-day decline of over 25%, marking the most significant drop in the company’s history. Adjusted earnings per share (EPS) are expected to be $2.93, below estimates of $3.01 and only a marginal increase from $2.80 in Q2 2025.
The official earnings report is set to be released on July 22, where IBM will provide additional context and forward guidance. The company is currently under scrutiny due to a securities-fraud inquiry regarding potential exaggeration of its sales pipeline. Investors are looking for clarity on revenue recovery, the future of its quantum computing business backed by a $1 billion government investment, and assurance that its dividend payout remains secure amidst ongoing restructuring efforts.
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