Thursday, 5 March, 2026
Despite beating revenue estimates, IBM warns of $3.5B forex hit
By Basit Ansari
<p>IBM Corp exceeded expectations in terms of quarterly sales but issued a warning that a strong dollar could result in a $3.5B forex impact for the year. IBM's chief financial officer, James Kavanaugh, told that the company now anticipates a sales blow from foreign exchange of around 6% this year. It had previously predicted a hit of between 3% and 4%. According to Kavanaugh, the stronger U.S. currency reduced revenue by $900M in the second quarter.</p>
Read full story at Moneycontrol
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