IBM lowers 2026 revenue growth outlook to 4%–5% as spending shifts to AI datacenter gear
AI Market Summary
IBM lowered its 2026 revenue growth outlook to 4%–5% from "more than 5%", with Q2 revenue and adjusted EPS both missing consensus. The key drag was a 42% collapse in Z mainframe revenue, which pushed infrastructure sales down 7%, while software growth also undershot expectations. The guidance cut reinforces investor concerns that AI infrastructure spending is crowding out legacy software and mainframe demand.
Impact level
● Medium
Affected assets
NCSKIBMR2USD/USDT-3.86%
AI Insight · NCSKIBMR2USD/USDTAI Insight
▼ Bearish
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IBM on July 22 cut its 2026 revenue growth forecast to 4%–5%, down from its prior guidance of more than 5% and below the analysts’ average estimate of a 4.8% increase. The change follows a 42% drop in second-quarter revenue from IBM’s Z mainframe, which pulled infrastructure revenue down 7%, while software revenue rose 5% but fell short of expectations. Second-quarter revenue increased 1% to $17.16 billion, missing estimates of $17.58 billion, and adjusted profit of $2.93 per share also came in below forecasts.
