IBM Falls After Sales Miss; Goldman Sachs Gains; HCA Cuts Full-Year EPS Forecast
IBM missed Q2 revenue as infrastructure sales fell; Goldman Sachs saw strong trading and advisory results; HCA reduced its full-year EPS forecast after uninsured patient losses hurt income.
Editorial companion
What stands out
IBM plunged after reporting preliminary second-quarter revenue of $17.2 billion, below analysts’ $17.9 billion expectation, and blamed customers shifting spending to chips and servers tied to artificial intelligence (AI) projects. Goldman Sachs rose after reporting $7.42 billion for the quarter, helped by a 72% jump in equities results and what the firm called its highest advisory fees since 2021 amid busy mergers and acquisitions (M&A) activity. HCA Healthcare slid after cutting its full-year earnings per share (EPS) forecast, saying a jump in patients losing Affordable Care Act (ACA) exchange coverage hit pre-tax income by about $4.