Revenue in the second quarter stood at $17.2 billion, compared with an expected $17.9 billion, according to a preliminary report from IBM.
IBM describes in the report how clients in June made major adjustments to their investment plans for servers, storage and memory capacity to secure infrastructure in the face of expected price increases.
The IBM decline is dragging down more stocks in the sector, including Accenture, Adobe, Microsoft, SAP and Capgemini.
