IBM's stock price is down today as the tech giant beat Wall Street expectations for revenue and profit, but missed on this key point.

IT consulting and services giant IBM’s (IBM) shares fell sharply in Thursday’s early premarket session despite the solid quarterly results and guidance. Underwhelming software revenue and CEO Arvind Krishna’s cautious commentary on the earnings call apparently weighed down on sentiment.

Analysts are upbeat about the potential for IBM’s software business, despite disappointing performance there in the most recent quarter.