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IBM shares plunge on AI spending concerns despite strong earnings

The Motley Fool +1 ·

IBM International Business Machines Corp
$251.46 +3.94%
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  1. 1IBM reported $17.1 billion in revenue, exceeding Wall Street estimates of $16.8 billion.
  2. 2IBM shares rose 7.3% in early after-hours trading.
  3. 3CEO Arvind Krishna noted that enterprise customers are concerned about AI spending without tangible returns.

So what's the key point?

IBM earned more revenue than experts expected. However, shares fell because companies are worried about investing in artificial intelligence without seeing profits.

Source The Motley Fool +1 · View original ↗

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