IBM boosts earn­ings out­look as profit for 2nd quar­ter rises 9%

Austin American-Statesman - - BUSINESS -

SAN FRAN­CISCO — IBM Corp. raised its 2010 profit fore­cast to at least $11.25 per share, a nickel per share in­crease that re­flects the cor­po­ra­tion’s con­fi­dence.

The in­crease came as IBM re­ported that its sec­ond-quar­ter net in­come jumped 9 per­cent to $3.39 bil­lion, or $2.65 per share. That com­pares with $3.1 bil­lion, or $2.34 per share, a year ear­lier. It tops an­a­lysts’ pro­jec­tions of $2.58 per share.

Still, shares of IBM de­clined in ex­tended trad­ing Mon­day as rev­enue fell short of an­a­lysts’ ex­pec­ta­tions.

Rev­enue rose 2 per­cent to $23.7 bil­lion, be­low the $24.2 bil­lion that an­a­lysts ex­pected.

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