IBM had 15 of its federal contracts cancelled due to DOGE-related cuts during the first quarter of 2025, according to reporting from Reuters and Bloomberg. These cuts amount to $100 million in future payments, per Bloomberg. Federal contracts represent between 5% and just under 10% of IBM’s consulting practice.

IBM's IBM stock fell 6% in today’s trading session despite beating its first-quarter expectations after-market hours on Wednesday and maintaining its full-year revenue guidance. That said, let’s see if the post-earnings selloff is a buying opportunity,

The company was able to post a beat on earnings-per-share, and just barely beat on revenue vs. expectations.