IBM CEO Arvind Krishna told investors in the letter that wiped billions from company’s market value: What played out was worse than our expectations, driven by …
IBM shares faced a historical 25% drop this week. This was the company’s biggest fall in almost four decades. In a letter to investors that was released alongside the company’s preliminary second-quarter results, IBM CEO Arvind Krishna said IBM “faltered,” attributing the weaker-than-expected performance to large deals that did not close and customers shifting spending…