International Business Machines Corporation IBM experienced slower momentum in its Software business in the second quarter of 2026. Software revenues increased 5% year over year to $7.8 billion, but organic revenue growth was flat. The weakness was primarily in the Transaction Processing business. Revenues from this business declined 8% year over year. The company attributed the shortfall primarily to customers shifting capital spending toward servers, storage and memory to secure supply-constrained infrastructure ahead of anticipated price increases. As a result, several large software deals didn't close within the expected timeframe. However, despite the slowdown, it is to be noted that approximately 80% of annual Software revenues is recurring.
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