IBM's (NYSE: IBM) stock dipped 4% during after-hours trading on July 18 following its second-quarter earnings release. The tech giant's revenue rose 9% year over year (16% on a constant-currency basis) to $15.5 billion, which beat analyst estimates by $360 million. Those growth rates exclude IBM's revenue from Kyndryl (NYSE: KD), which it spun off last November.
The company's adjusted earnings rose 43% to $2.31 per share, which also surpassed analyst expectations by $0.02. Those headline numbers looked solid, so why did Big Blue's stock turn red after the report? Let's dive deeper into the quarterly numbers to see if its stock is still worth buying.
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Source Fool.com