Reported about 19 hours ago
IBM announced that 15 of its government contracts were affected by cost-cutting measures from the Trump administration, resulting in a 6% drop in shares after hours. Despite maintaining a positive revenue forecast and reporting better-than-expected earnings for Q1, concerns over the contract cancellations and economic uncertainty may overshadow its performance. The impacted contracts are valued at $100 million, yet represent less than 1% of IBM's consulting backlog. The company is also adapting to U.S. tariff policies while aiming for at least 5% revenue growth in 2025.
Source: YAHOO