IBM Q2 Net Income Up 9 Percent To $3.4 Billion

Website:	ibm.com
Location:	Armonk, New York, United States
Founded:	1896

IBM, acronym for International Business Machine, is a multinational computer technology and consulting corporation. The company is one of the few information technology companies with a continuous history dating back to the 19th century.
IBM reported steady second quarter earnings today, with net income rising 9 percent compared to the second quarter of 2009, to $3.4 billion. Big Blue’s diluted earnings increased 13 percent to $2.61 per share compared with diluted earnings of $2.32 per share in the second quarter of 2009, beating the street estimate of $2.58 per share.

Total revenues for quarter came in at $23.7 billion, a 2 percent increase from the second quarter of 2009, but falling below analyst expectations of $24.2 billion The impact of changes in currency rates since IBM’s first-quarter earnings report in April reduced revenue by approximately $500 million in the second quarter.

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