Saturday, January 28, 2023

IBM Q2 2012 Profit Up 6% Despite Revenue Decline

eWeek: IBM has reported that it took in $25.8 billion in revenue during the second quarter, a 3 percent year-over-year decline. Despite that decrease, the company’s net income actually increased 6 percent to reach $3.9 billion. Revenue from most of the company’s software products and service offerings was flat or down for the quarter, and many hardware segments also showed declines. The company also said that currency fluctuations negatively impacted its earnings by $1 billion.

Despite, the lackluster quarterly showing, the company remains optimistic in its outlook for the year. “Looking ahead, we are well-positioned to deliver greater value to a wider range of clients and to our shareholders. Given our performance in the first half and our outlook for the second half, we are raising our full-year operating earnings per share expectations to at least $15.10,” said IBM president and CEO Ginni Rometty.

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