FILE PHOTO: A view shows the IBM Australia building in Melbourne, Australia, March 24, 2025. REUTERS/Hollie Adams/File Photo
(Reuters) -International Business Machines said 15 of its government contracts were shelved under a cost-cutting drive by the Trump administration, a setback that eclipsed its upbeat revenue forecast and dragged its shares down over 6% after hours.
The federal consulting businesses of Big Blue's rivals, such as Accenture, have also taken a hit from belt-tightening efforts by the U.S. administration and its Department of Government Efficiency.
