International Business Machines (NYSE: IBM) posted steady numbers for the second quarter, raising full-year guidance on prospects of its new products and “higher-value” business offerings.
For the second quarter, revenue totaled $23.72 billion, compared with $23.25 billion for the second quarter last year. Analysts polled by Thomson Reuters expected $24.17 in revenue.
Net income increased 9.1% to $3.39 billion, or $2.61 per share—up 12.5% from the equivalent quarter last year and slightly higher than analysts’ estimate of $2.58 per share.
“In the second quarter we again delivered double-digit earnings-per-share growth, increased margins, as well as improving constant-currency revenue performance in our ongoing software, services, and hardware businesses, and in all geographies,” stated IBM CEO Sam Palmisano.
Big Blue posted sales growth across all its significant product lines. Global Technology Services sales reached $9.23 billion, up 1.4%; Global Business Services revenue rose 3.3% to $4.48 billion; software sales climbed 2.1% to $5.27 billion, and hardware sales increased 3.49% to $4 billion.
IBM reported a 9% increase in the Asia-Pacific region, a 3% increase in the Americas, a drop of 6% in the Europe, the Middle East, and Africa regions. Revenue derived from Brazil, Russia, India and China (BRIC) jumped 22%.
Palmisano was upbeat on prospects of the tech sector, saying he anticipates continued growth at IBM through the second half of the calendar year.
“With the benefit of our strategic growth investments, our mix of higher-value business and the introduction of new System z and Power Systems, we are confident of our ability in the second half of the year to continue our strong business performance, grow profit, and drive shareholder returns,” Palmisano said.
Palmisano now expects full-year earnings to reach $11.25, up from previous guidance of $11.20.
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BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
Beacon Equity Group Disclaimer
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
