IBM Earnings Miss Estimates, Dimming Investor Enthusiasm
International Business Machines Corp. reported weaker-than-expected sales in its closely watched software segment, disappointing investors who have grown increasingly optimistic about the business. Second-quarter software unit sales increased 10% to $7.39 billion, slightly below analysts’ average estimate of $7.49 billion. The company’s consulting business, which has been experiencing a growth slump, generated a revenue bump of 3% to $5.31 billion....
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