IBM's Q2 prerelease for results last week had already lowered expectations for Wednesday's results.
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Investing.com -- International Business Machines Corporation (NYSE:IBM) reported second-quarter results that fell short of analyst expectations, though shares rose 3% as the company had issued a profit warning last week.
IBM is in "show-me" mode after a challenging few days for the business.
Alphabet and Tesla will kick off the Magnificent 7 earnings season later Wednesday, while several other large tech companies are also scheduled to release results that will help determine where the AI trade is headed next.

IBM (IBM) is set to report quarterly earnings on Wednesday after the closing bell. Simplify Asset Management managing director and head of multi-asset solutions, Paisley Nardini, shares her thoughts on the upcoming results.
IBM Faces Make-or-Break Earnings as Wall Street Awaits AI Update
Today Earnings: AT&T, GE Vernova, PulteGroup, CME Group, Moody’s, Philip Morris International Earnings (p.m.): Alphabet, Tesla, IBM, Southwest Airlines, Texas Instruments, CSX, ServiceNow, Raymond James Economic data: The Energy Information Administration will release its weekly petroleum status report.

Yahoo Finance's Josh Lipton takes a closer look at the top stories for investors to watch on Wednesday, Jul. 22, including Alphabet (GOOG, GOOGL) and Tesla (TSLA) quarterly earnings results.
The company recently announced some weaker-than-expected earnings and hinted at more potential trouble ahead.
Today Earnings (a.m.): General Motors, Charles Schwab, Danaher, 3M, Equifax, Hasbro, Northrop Grumman, Halliburton Earnings (p.m.): Chubb, Capital One, Interactive Brokers Economic data: ADP weekly ...
Tesla, Alphabet, IBM, Texas Instruments, and Intel headline a pivotal earnings week as weakening technical signals suggest the tech rally may need time to consolidate.
Wall Street heads into a pivotal week with investors preparing for a flood of corporate earnings, major artificial intelligence announcements and lingering geopolitical tensions that have pushed oil prices above $90 a barrel. The spotlight will be on Wednesday's earnings from Alphabet Inc...
US stock futures pointed higher on Monday as attention turned to a bumper week of Big Tech earnings, even with the US-Iran conflict grinding into its tenth day. Dow futures edged up 0.2%, S&P 500 contracts added 0.3%, and the Nasdaq-100 popped 0.7%, a welcome bounce after a bruising week...
July 20 (Reuters) - U.S. stock index futures rose slightly on Monday, following last week's chip-stocks-led pullback, as investors awaited a key slate of earnings that could test Wall Street's AI-
Today Earnings (a.m.): Domino’s Pizza, AMC Entertainment Holdings Earnings (p.m.): Steel Dynamics Economic data: U.S. leading economic indicators report for June Tomorrow Earnings: General Motors, ...
Alphabet, Tesla, and Intel are among the key companies reporting their second-quarter results later this week.
Asking for a Trend Host Josh Lipton previews several of the biggest stories to come throughout next week, including earnings results out from Alphabet (GOOG, GOOGL), Tesla (TSLA), General Motors (GM), and Intel (INTC).
After a steep post-update decline, IBM now has one earnings report to rebuild investor confidence.
Markets face a potentially volatile week as AI bubble fears intensify amid concerns that technology sector repricing has not yet reached equilibrium, coinciding with earnings season ramping dramatically through late July.
With Oppenheimer's downgrade and a complete withdrawal of its price target following IBM's 25% single-day post-earnings drop, where will IBM go from here? Investors are wondering.
A rare early warning from one of tech's oldest names doubles as a map of enterprise spending right now.
So far in the Q2 cycle, several companies, including Micron and Citigroup, have been standouts, whereas preliminary results from IBM have been disappointing.