International Business Machines Corp. Q2 Profit Increases, beats estimates

(RTTNews) - International Business Machines Corp. (IBM) announced earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.58 billion, or $1.72 per share. This compares with $1.39 billion, or $1.53 per share, in last year's second quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $2.00 billion or $2.18 per share for the period.

Analysts on average had expected the company to earn $2.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 99.9% to $15.48 million from $15.54 billion last year.

International Business Machines Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $1.58 Bln. vs. $1.39 Bln. last year. -EPS (Q2): $1.72 vs. $1.53 last year. -Analyst Estimate: $2.01 -Revenue (Q2): $15.48 Mln vs. $15.54 Bln last year.