IBM: Q2 Earnings Snapshot

Associated Press Finance
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ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported second-quarter profit of $1.83 billion.

The Armonk, New York-based company said it had profit of $1.96 per share. Earnings, adjusted for one-time gains and costs, were $2.43 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.

The technology and consulting company posted revenue of $15.77 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $15.58 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBM at https://www.zacks.com/ap/IBM