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Capital & PolicyFunding|July 15, 2026, 12:23 PM
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IBM Reports $17 Billion Preliminary Revenue As AI Bookings Top $12 Billion

BySendTech Times Capital & Policy DeskNewsroom-edited, source-reviewed coverage|Source: The Next Web
Newsroom brief

IBM's preliminary second-quarter revenue came in at roughly $17 billion, below the $18 billion analyst estimate cited by The Next Web, while cumulative AI bookings surpassed $12 billion. Full results are due later this month, but the update did not name the large deals that failed to close or split AI bookings into recognised revenue.

Verified against source materialEdited by SendTech Times Capital & Policy Desk
IBM Reports $17 Billion Preliminary Revenue As AI Bookings Top $12 Billion

IBM's preliminary second-quarter revenue came in at roughly $17 billion while cumulative AI bookings passed $12 billion, The Next Web reported, citing IBM's preliminary update and chief executive Arvind Krishna's investor letter.

Revenue rose 1 per cent from a year earlier but fell below the roughly $18 billion analyst expectation .

The report said IBM shares dropped as much as 17 per cent in premarket trading after the update.

IBM Preliminary Revenue Missed The $18 Billion Estimate

IBM said software-division growth was five per cent and Red Hat revenue growth was 11 per cent in the preliminary update.

Both units still missed forecasts, while consulting was described as essentially flat and infrastructure revenue declined seven per cent as clients pulled back on mainframe and storage purchases.

Krishna attributed the quarter to execution issues, spending shifts and large deals that did not close before quarter end.

The investor letter also said some clients redirected late-June capital spending to server hardware, storage systems and memory before expected tariff-related price increases.

Adjusted earnings per share were described as nearly three dollars, below the roughly three-dollar consensus cited by The Next Web.

The report said the preliminary figures put gross profit margin at just under 58 per cent, down about one percentage point from a year earlier, and pre-tax margin at just over 14 per cent.

AI Bookings Surpassed $12 Billion Cumulatively

Artificial intelligence remained the stronger part of the update.

IBM said cumulative AI bookings have surpassed $12 billion, covering demand for AI consulting and infrastructure even as the broader preliminary result missed revenue expectations.

The report also listed IBM's recent enterprise cybersecurity tie-up with OpenAI among the company's AI partnerships.

Krishna has framed AI as the growth engine for the company's revenue mix, but the preliminary update did not attach the AI bookings total to recognised quarterly revenue.

The share-price reaction followed earlier gains in IBM's stock.

The shares had risen 30 per cent in May before Monday's drop, helped by bullish analyst coverage around the company's AI and enterprise software positioning, according to The Next Web.

Full Quarterly Results Are Due Later This Month

IBM plans to release full quarterly results later this month.

The preliminary update did not name the large deals that failed to close, identify the clients that shifted spending towards servers and memory, or break the $12 billion AI bookings total into consulting and infrastructure revenue.

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