IBM Tops Analysts' Expectations On Earnings And Revenue In Its Second Quarter Report

International Business Machines Corp. (IBM) on Thursday reported profit that climbed by 28 percent in its second quarter, and topped analysts' expectations.

The Armonk, New York-based company said profit increased to $4.14 billion, or $4.12 per share, from $3.23 billion, or $2.91 per share, in the same quarter a year ago.

Earnings, adjusted for non-recurring costs, came to $4.32 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $4.31 per share.

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