US software firms slip after weak first-quarter results from IBM, ServiceNow

Workday

23/04/2026 10:22

** Shares of U.S. software stocks fall premarket after weak Q1 results from IBM IBM.N and ServiceNow NOW.N

** NOW stock fell 13.8% premarket after co said delays in closing several large Middle East government deals weighed on its first-quarter subscription revenue growth

** IBM fell 7.3% premarket after co reported slower revenue growth in Q1 on Wednesday as weakness in its software division stoked concerns about disruption from artificial intelligence tools

** Other software stock like Microsoft MSFT.O fall 1.7%, Adobe ADBE.O drops 2.3%, CrowdStrike CRWD.O down 2.5%

** Intuit INTU.O slips 3.3%, AppLovin APP.O declines 1.8%, Datadog DDOG.O down 2.2%, Workday WDAY.O falls 4.9%

** iShares Expanded Tech-Software Sector ETF IGV.N also down 3%

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))