IBM falls as slowing enterprise spending pressure consulting growth


FILE PHOTO Figurines with computers and smartphones are seen in front of IBM logo in this illustration taken February 19 2024. REUTERSDado RuvicIllustrationFile Photo

FILE PHOTO: Figurines with computers and smartphones are seen in front of IBM logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -IBM shares fell more than 6% on Thursday, as reduced enterprise spending on non-GenAI projects pressured its consulting segment, clouding software unit strength.

If losses hold, its $214 billion market valuation could drop by over $13 billion.

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