IBM drops over 13% in pre-market trading, Q2 preliminary revenue falls short of expectations

Odaily IBM drops over 13% in pre-market trading. The company's preliminary revenue for the second quarter fell short of expectations, with preliminary Q2 revenue at $17.2 billion, up 1% year-over-year, compared to an estimate of $17.86 billion. Software revenue grew 5%, while infrastructure revenue declined 7%. Diluted earnings per share stood at $2.27, down 2% year-over-year; non-GAAP operating earnings per share were $2.93, up 5% year-over-year.