IBM drops over 13% premarket, Q2 preliminary revenue misses expectations

Odaily IBM drops over 13% premarket. The company's Q2 preliminary revenue fell short of expectations. Q2 preliminary revenue is $17.2 billion, up 1% year-over-year, compared to the estimate of $17.86 billion; software revenue grew 5%, while infrastructure revenue declined 7%. Diluted EPS is $2.27, down 2% year-over-year; Non-GAAP operating EPS is $2.93, up 5% year-over-year.