International Business Machines Corp. (IBM) Beats the Street
Second-quarter earnings at International Business Machines Corp. rose 12 percent and beat Wall Street forecasts Wednesday, largely on the strength of IBM's software division and improvement in its services unit.
From April through June, the Armonk, N.Y.-based technology bellwether earned $2.26 billion, $1.55 per share, on revenue of $23.8 billion.
In the comparable period last year, IBM earned $2.02 billion, $1.30 per share, on revenue of $21.9 billion.
This year's quarterly numbers were boosted $81 million, or 5 cents per share, from the sale of IBM's printing division to Ricoh Co. Without that gain, IBM would have seen net profit rise 8 percent, and it would have earned $1.50 per share. That beat the estimate of $1.47 expected by analysts surveyed by Thomson Financial.
From April through June, the Armonk, N.Y.-based technology bellwether earned $2.26 billion, $1.55 per share, on revenue of $23.8 billion.
In the comparable period last year, IBM earned $2.02 billion, $1.30 per share, on revenue of $21.9 billion.
This year's quarterly numbers were boosted $81 million, or 5 cents per share, from the sale of IBM's printing division to Ricoh Co. Without that gain, IBM would have seen net profit rise 8 percent, and it would have earned $1.50 per share. That beat the estimate of $1.47 expected by analysts surveyed by Thomson Financial.
Labels: IBM, International Business Machines Corp.
posted by Stock Administrator @ 1:49 AM
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