Shares of International Business Machines Corporation (IBM) tanked over 10% on Thursday morning despite reporting profit and revenue growth.
The stock is currently trading at $224.73, down $27.13 or 10.77%, on the NYSE. It opened at $232.27 after closing the previous session at $251.86. The stock has traded between $220.72 and $324.90 over the past 52 weeks.
IBM reported net income of $1.216 billion, or $1.28 per share, compared with $1.054 billion, or $1.12 per share, last year. Revenue increased to $15.917 billion from $14.541 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.