IBM delivers strong Q2, ups 2011 outlook

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.

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