International Business Machines Corp. (IBM) saw its stock price plummet on Thursday after reporting its first-quarter sales and profit. The company’s sales increased by 1% to $14.5 billion, exceeding analysts’ expectations.
However, the strong results were tempered by concerns about economic uncertainty and US government cost cuts, which may impact IBM’s business. Despite this, the company’s profit, excluding certain items, rose to $1.60 per share, beating analyst estimates.
The mixed signals sent a negative shockwave through the market, resulting in IBM’s largest decline in a year. The news highlights the ongoing challenges facing companies operating in a volatile economic environment.
Source: https://www.bloomberg.com/news/articles/2025-04-23/ibm-posts-sales-topping-estimates-says-doge-hit-15-contracts