{"version":"1.0","type":"card","id":"08869b30-bbac-444a-a380-d2a57a5494c0","url":"https://stacklist.com/card/08869b30-bbac-444a-a380-d2a57a5494c0","title":"Arvind Krishna's Letter to IBM Investors","source_url":"https://newsroom.ibm.com/2026-07-14-Arvind-Krishnas-Letter-to-IBM-Investors","note":"This morning we are releasing selected preliminary second-quarter 2026 financial results. We are still working to close our financial reporting for the quarter and our final results could be slightly different.","image":{"url":"https://ucarecdn.com/0a4dbfe8-3a15-4560-b272-86469743b5ca/","alt":"Arvind Krishna's Letter to IBM Investors","width":1280,"height":800},"stack":{"id":"f947deb3-cc46-4708-be70-b5d70fe6a5d3","title":"Signals Served #020 — Intelligence Got Cheap in Public","url":"https://stacklist.com/c/finance/stack/f947deb3-cc46-4708-be70-b5d70fe6a5d3"},"created_at":"2026-07-21T15:39:28.526Z","updated_at":null,"aco":{"summary":"IBM's preliminary Q2 2026 investor letter from CEO Arvind Krishna reports $17.2 billion in revenue, up 1 percent, with software revenue up 5 percent but infrastructure revenue down 7 percent due to client capex reprioritization and cybersecurity distractions. The letter highlights bright spots including Red Hat's 11 percent growth, strong distributed infrastructure performance, and the launch of Lightwell, a $5 billion AI initiative backed by over 20,000 engineers.","tags":["ibm","quarterly-earnings","financial-results","investor-letter","software-revenue","mainframe","enterprise-ai"],"key_entities":[{"name":"Arvind Krishna","type":"person","confidence":1},{"name":"IBM","type":"organization","confidence":1},{"name":"Red Hat","type":"organization","confidence":0.95},{"name":"HashiCorp","type":"organization","confidence":0.9},{"name":"Confluent","type":"organization","confidence":0.85},{"name":"z17","type":"technology","confidence":0.95},{"name":"Lightwell","type":"technology","confidence":0.9},{"name":"Mythos","type":"technology","confidence":0.8},{"name":"Armonk, N.Y.","type":"location","confidence":0.95},{"name":"GenAI","type":"concept","confidence":0.85},{"name":"free cash flow","type":"concept","confidence":0.8}],"classification":"memo","language":"en","confidence":0.85,"provenance":{"model":"claude-opus-4-6","tool":"@stacklist/mcp-server@2.0.0","confidence":0.85,"timestamp":"2026-07-21T15:39:40.778Z"},"token_counts":{"approximate":3589,"cl100k":3342},"content_hash":"sha256:a7652c4720cb041afba039ed5781d77cd1688d7b3a781c1d3d956ef8a6261b56","acp_version":"0.2","body_available":true,"body_tokens":3589,"visibility":"public","agent_accessible":true,"status":"final"},"_links":{"self":"/api/public/card/08869b30-bbac-444a-a380-d2a57a5494c0.json","html":"https://stacklist.com/card/08869b30-bbac-444a-a380-d2a57a5494c0","md":"/api/public/card/08869b30-bbac-444a-a380-d2a57a5494c0.md","stack_json":"/api/public/stack/f947deb3-cc46-4708-be70-b5d70fe6a5d3.json"}}