IBM delivers strong Q2, ups 2011 outlook

Summary:On solid hardware and software performance, Big Blue reports second-quarter earnings of US$3.7 billion, or US$3 a share, and raises its expectations for the year.

IBM handily topped expectations for the second quarter and upped its outlook for 2011.

The company reported second-quarter earnings of US$3.7 billion, or US$3 a share, on revenue of US$26.7 billion, up 12 percent from a year ago. Big Blue got an assist from a weak dollar and accounting for currency fluctuations revenue would have been up 5 percent. Non-GAAP earnings were US$3.09 a share. Wall Street was looking for earnings of US$3.03 a share on revenue of US$25.34 billion.

Big Blue also raised its 2011 non-GAAP earnings target to at least US$13.25 a share. Wall Street was expecting US$13.22 a share for 2011.

Read more of "IBM delivers strong Q2, ups 2011 outlook" at ZDNet.

Topics: IT Employment

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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