finance
IBM shares fall nearly 20 percent after earnings miss
The company reported weaker-than-expected results tied to its software and infrastructure segments. The decline erased about $55 billion in market value.
Jul 14, 7:35 AM·1m read1 source
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Shares of the technology company dropped nearly 20 percent after it posted quarterly results that missed analyst expectations. The decline was attributed to softness in the software and infrastructure businesses.
Market reaction The sell-off removed roughly $55 billion in market capitalization from the company's valuation. Trading volume rose sharply as investors adjusted positions following the earnings release.
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