Airport Hotels In Miami - IBM Q2 Earnings Per Share Up 8%

Source - http://www.usatoday.com/
By - Scott Martin
Category - Airport Hotels In Miami
Posted By - Homewood Suites Miami

Airport Hotels In Miami

IBM beat profit estimates despite a drop in revenue for its second-quarter results, boosting shares of the company in post-market trading. 

Shares of IBM rose nearly 3% at $199.93 in after-hours trading following news of its earnings.

IBM's net income rose 3% while revenue was down 3% for the quarter.

IBM reported second-quarter net income of $4.3 billion, excluding certain charges, on revenue of $24.9 billion in revenue. Not counting those charges, earnings per share were $3.91, up 8%, and beating the $3.77 a share forecast of analysts surveyed by Thomson Reuters.

Analysts expected IBM to report net income of $4.19 billion on $25.37 billion in revenue in the quarter, according to the survey of estimates from Thomson Reuters. 

U.S. demand for IBM's business remains stable even though state and local government spending is weak, according to analyst firm Bernstein Research. International demand poses questions for IBM given economic concerns in Brazil and China, says Bernstein.