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CNBC TV18

Infosys and Wipro ADRs fall after IBM shares plunge 23% on Q2 revenue miss

AI Market Summary
IBM's preliminary Q2 revenue miss ($17.2B vs $17.9B est.) and a 7% decline in infrastructure sales triggered a ~23% selloff, spilling into software and IT services. Sector proxies (IGV -4.5%) and large-cap peers (MSFT, ORCL, CRM) fell, while services names like Infosys and Wipro ADRs also weakened. The move tightens near-term risk sentiment across enterprise software and outsourcing.
Impact level
● High
AI InsightAI Insight
▼ Bearish
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IBM released preliminary Q2 results showing revenue of $17.2 billion, below analysts’ expectations of $17.9 billion, and said infrastructure revenue fell 7%. The shortfall sent IBM shares down 23% in a single session, the stock’s biggest one-day drop in nearly six decades. Infosys and Wipro ADRs fell 3.39% and 2.63%, while the iShares Expanded Tech-Software Sector ETF (IGV) slid 4.5% and Microsoft, Oracle and Salesforce also declined.
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