IBM net up as software, hardware sales rise

By John Letzing

International Business Machines Corp. IBM +2.07% said Monday its second-quarter net income rose to $3.66 billion, or $3 a share, from $3.39 billion, or $2.61 a share in the same period last year. Armonk, N.Y.-based IBM said revenue rose 12% to $26.7 billion. Analysts polled by FactSet Research had expected IBM to report earnings of $3.02 a share, and $25.4 billion in revenue for the quarter. IBM also said it is raising its earnings guidance for the full year, to "at least" $12.87 a share on a GAAP basis, from $12.73 a share. Shares of IBM fell nearly 1% in after-hours trading, following the earnings announcement.

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