International Business Machines Corp. Q2 Profit Increases, Beats Estimates

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

The company's bottom line totaled $1.83 billion, or $1.96 per share. This compares with $1.58 billion, or $1.72 per share, in last year's second quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $2.27 billion or $2.43 per share for the period.

Analysts on average had expected the company to earn $2.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.9% to $15.77 billion from $15.47 billion last year.

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

-Earnings (Q2): $1.83 Bln. vs. $1.58 Bln. last year. -EPS (Q2): $1.96 vs. $1.72 last year. -Revenue (Q2): $15.77 Bln vs. $15.47 Bln last year.