IBM cuts full-year revenue outlook after weaker second-quarter results

IBM cut its full-year revenue growth outlook after second-quarter results came in weaker than expected, with customers delaying spending and some deals slipping late in the quarter. The company said revenue rose 1% to about $17.2 billion, while net income and earnings per share were slightly lower than a year earlier; software grew, consulting was flat, and infrastructure fell sharply. IBM now expects 2026 constant-currency revenue growth of 4% to 5%, down from its earlier view of more than 5%, but it kept its free cash flow target in place.