International Business Machines Corp. Q2 adjusted earnings Beat Estimates

(RTTNews) - International Business Machines Corp. (IBM) released a profit for its second quarter that advanced from last year.

The company's profit totaled $2.50 billion, or $2.81 per share. This compares with $2.40 billion, or $2.61 per share, in last year's second quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $2.83 billion or $3.17 per share for the period.

Analysts had expected the company to earn $3.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.2% to $19.16 billion from $20.00 billion last year.

International Business Machines Corp. earnings at a glance:

-Earnings (Q2): $2.83 Bln. vs. $2.84 Bln. last year. -EPS (Q2): $3.17 vs. $3.08 last year. -Analysts Estimate: $3.07 -Revenue (Q2): $19.16 Bln vs. $20.00 Bln last year.