IBM (IBM) is pinning its hopes for a 2026 rebound in mainframe computing demand after a shock warning on the second quarter sent the stock reeling. Quick insight: When IBM reported second quarter earnings Tuesday evening, one thing stood out more than most. Fresh off a major sales warning a week ago, the company didn't provide a complete reset of full-year sales guidance — instead, it gave a modest markdown. "We do not see any evidence of clients getting off of mainframe," IBM CFO Jim Kavanaugh told Yahoo Finance. IBM said it saw second quarter sales of $17.2 billion versus the analyst estimates of $17.85 billion at the time.