Woofun AI reports that IBM posted second-quarter revenue of $17.2 billion, representing a 1% year-over-year increase. Adjusted earnings per share reached $2.93, falling short of market expectations. The company revised its full-year revenue growth forecast downward from "over 5%" to a range of "4% to 5%".

Mainframe sales declined by 42% year-over-year, causing the infrastructure segment to contract by 7%. Conversely, the software division demonstrated resilience with a 5% revenue increase. Following the release, IBM shares gained approximately 3% in after-hours trading.