The software and consulting giant said 15 of its government contracts had been shelved due to cost-cutting initiatives by the Trump administration, amounting to roughly $100 million in lost business, a relatively small portion of its consulting backlog. Analysts said IBM’s consulting business was particularly vulnerable to these cuts and weak customer spending, given its reliance on government and large enterprise clients. Its results reflected this vulnerability, with the company reporting a 2% drop in revenue from its consulting segment, but IBM maintained its target of at least 5% revenue growth on a constant currency basis in 2025.Read More
