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International Business Machines Corp. failed to deliver upside in its software segment during the latest quarter, and that could be weighing on its stock after a strong recent rally.
IBM’s
IBM headline numbers exceeded expectations Wednesday. The company reported revenue of $17 billion for the June quarter — up 8%, or 5% in constant currency, from the previous year. Wall Street had expectations for $16.6 billion, according to FactSet. IBM reported adjusted earnings of $2.80 per share, which came in above expectations for $2.65.
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