Woofun AI reports that IBM shares declined more than 13% in pre-market trading after the company’s preliminary second-quarter results fell short of analyst expectations. Preliminary revenue for the quarter stood at $17.2 billion, representing a 1% year-over-year increase but missing the consensus estimate of $17.86 billion. Software revenue rose 5%, while infrastructure revenue contracted by 7%. Diluted earnings per share decreased 2% year-over-year to $2.27, whereas non-GAAP operating earnings per share increased 5% to $2.93.