Why IBM Stock Just Sank 6.5%

Why IBM Stock Just Sank 6.5%

International Business Machines (NYSE: IBM) reported its fiscal Q3 2020 earnings after close of trading Monday. IBM stock is down 6.5% in response as of 11 a.m. EDT today despite nailing the analysts' consensus earnings target, and surpassing it on revenue. It beat the consensus estimate of $17.5 billion in revenue, at $17.6 billion.