Why IBM Stock Is Falling Hard Today

Shares of IBM (NYSE: IBM) were sliding today after the company reported its second-quarter financial results. Despite beating Wall Street's consensus estimates for both sales and earnings, investors were fleeing the stock after management cut its free-cash-flow (FCF) guidance for the year. 

The tech stock was down by 6.1% as of 11:16 a.m. ET on Tuesday.

IBM reported adjusted earnings of $2.31 per share, up 43% from the year-ago quarter, and ahead of analysts' average estimate of $2.28. Sales also beat Wall Street's expectations, with revenue increasing 9% from a year ago to $15.5 billion, ahead of analysts' consensus estimate of $15.1 billion. 

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Source Fool.com