IBM’s earnings missed expectations badly, with a 42% plunge in its mainframe segment dragging down profits and sending its stock plummeting. The company blames a temporary pause in major client upgrades — not abandonment of the platform — citing rising costs in other data center hardware as the reason. Despite the dip, leadership insists this is a short-term hiccup, with delayed deals expected to rebound and software contracts to drive future growth, proving the mainframe’s enduring relevance in an AI-driven world.
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