** Shares of IBM IBM.N up ~3% at $211.50 in extended trading

** Co cut its annual revenue growth forecast days after shocking Wall Street with a warning that corporate spending was shifting toward AI-focused data center gear at the expense of its software and mainframe computers

** Expects 2026 revenue growth between 4% and 5%, down from its previous expectations of more than 5% growth

** Posts Q2 revenue growth of 1% to $17.16 billion, missing estimates of $17.58 billion - LSEG-compiled data

** Logs Q2 adjusted profit of $2.93 per share vs. estimate of $2.97 per share

** As of last close, stock down 30% YTD