IBM (IBM) shares are dropping 5% in premarket trading Thursday, weighing on Dow Jones Industrial Average futures, after its quarterly revenue fell short of Wall Street estimates.

The company reported third-quarter revenue of $14.97 billion, up 1% year-over-year and 2% in constant-currency terms but lowe🌊r than the $15.07 billion consensus est൩imate of analysts polled by Visible Alpha. Infrastructure revenue fell 7% and consulting revenue remained flat.

IBM posted net loss of $330 million, or $0.36 per share, due to a $2.7 billion pension-settlement charge. Analysts expected ♏a profi🀅t of $1.72 billion, or $1.84 per share.

Q4 Revenue Growth Seen 'Consistent' With Q3

IBM 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Arvind Kris🌳hna said the group expects fourth-quarter revenue growth, in constant-currency terms, to be “consistent” with the third quarter, driven by strong software sales. 

Krishna said the firm's "AI book of business now stands at more than $3 billion, up more than $1 billi🔜on quarter to quarter."

Even aft🎐er falling early Thursday, IBM s𒉰hares are up more than 35% this year.