IBM posts Q2 revenue of $ 26.7 (b) with a net profit of up to 8% up to $ 3.7 (b), Ups Outlook

Leena Rao is currently working as a writer for TechCrunch. She recently finished graduate school of the Medill School of journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007 she helped lead efforts for advocacy and community relationships Congressman Carloyn Maloney in New York. She graduated from Columbia University in 2003 where it was ... ? Read More

IBM released its second quarter earnings today. Big Blue reported 26.7 billion of revenue for the quarter, up to 15 per cent (or up to 5 per cent adjustment for currency). Diluted earnings came in at $ 3.00 per share, compared with diluted earnings of $ 2.62 per share in the first quarter of 2010, an increase of 18 per cent. Analysts expected $ 3.02 per share
on revenue of $ 25.4 billion.

Second-quarter net profit came to $ 3.7 billion compared to $ 3.4 billion in the second quarter of 2010, an increase of 8 per cent. Existing (non-GAAP), the net earnings of $ 3.8 billion compared to $ 3.4 billion in the second quarter of 2010, an increase of 11 per cent.

Samuel j. Palmisano, Chairman, President and CEO, IBM said in a release in the second quarter, our long-term strategic investment in the company's growth initiatives again helped drive strong revenue performance …Hardware, software and services revenue grew by double digits, and we have achieved strong profit and free cash flow growth.

Palmisano also said that from the $ 12.73 at least $ 12.87 its full year diluted GAAP earnings per share and operating earnings per share expectations $ 13.25. per share.

Revenues from software segment were $ 6.2 billion, an increase of 17 per cent (10 per cent, adjusting for currency). Revenues from key IBM middleware, which includes WebSphere, information management, Lotus, Tivoli and rational products, were $ 3.9 billion, an increase of 21 per cent (14 per cent, adjusting for currency) and the second quarter of 2010. Income from the WebSphere family of products has increased by 55 per cent for the year. Information management software revenue grew 18 percent. Tivoli software revenue increased by 9 per cent. Revenues increased 12 per cent of Lotus software and Rational software 4 per cent.

IBM hardware revenues amounted to $ 4.7 billion for the quarter to 17 per cent (12% currency adjusted) for the second quarter of 2010. IBM instead ended the second quarter of 2011 from $ 11.8 billion of cash and generating free cash flows of $ 3.4 billion to approximately $ 350 million year over year.

IBM, the abbreviation for international business machines, is a multinational computer technology and Consulting Corporation. The company is one of the few information technology companies with a continuous history dating ...

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