IBM Highlights Flat Organic Growth and Weak Mainframe Sales
IBM says its 4–5% full-year revenue guidance is backed by acquisitions and resilient recurring software revenue, though organic growth remains flat. The market frames IBM as a dependable income and cash-flow story, citing a 2.8% yield and 31 straight dividend increases. A July shareholder letter flagged weak mainframe sales, followed by a second-quarter report showing more softness.