IBM faces investor worries amid tariffs

Market jitters: People cross the street in front of Morgan Stanley’s headquarters in New York’s Times Square. IBM executives are more cautious about the consulting unit this year. — Reuters

NEW YORK: International Business Machines Corp (IBM) has dropped in extended trading after its results weren’t strong enough to quell investors’ concerns that tariffs and federal cost cuts will dent the company’s business.

First-quarter sales increased almost 1% to US$14.5bil, IBM said Wednesday in a statement.