IBM Stock Plunges 25.21% on Earnings Miss, Marking Worst Week in Company History

IBM-2.97%
IBM stock fell 25.21% on July 16 after the company reported second-quarter results that missed Wall Street expectations, marking the company's largest single-day decline in history and erasing nearly $70 billion in market value. The stock dropped an additional 2.92% on Friday (July 17), bringing the cumulative weekly loss to approximately 26%, the worst week in IBM's history. CEO Arvind Krishna attributed the earnings shortfall to poor execution and delayed major deals. Infrastructure revenues declined 7% while software growth slowed to 5%, falling short of analyst expectations.
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