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