1159 ET - IBM says its consulting business is more susceptible to discretionary spending pullbacks and fallout from the Department of Government Efficiency. CEO Arvind Krishna says the technology company had a couple of contracts that were impacted by DOGE in the first quarter. He clarified that business with the federal government represents less than 5% of IBM's overall annual revenue, and less than 10% of its consulting sector. "We are not immune from all those activities, just like everybody else," Krishna says. But "the work we tend to do is much more mission-critical, is much more about building the government systems which make them more efficient and so, we see them carry on." (roshan.fernandez@wsj.com)

(END) Dow Jones Newswires

April 24, 2025 11:59 ET (15:59 GMT)

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