IBM's 2nd-quarter earnings top analyst estimates while revenue falls shy of projections

July 18, 2012 - 4:23 PM

ARMONK, N.Y. - IBM says its second-quarter earnings rose 6 per cent despite a downturn in revenue amid Europe's economic jitters.

Churning out higher earnings has become routine for IBM Corp., one of the technology industry's bellwether.

Wednesday's announcement marks the company's 38th consecutive quarter that its earnings have climbed from the previous year.

But IBM's 3 per cent drop in second-quarter revenue could unnerve investors, given the decline was larger than stock market analysts projected. The earnings exceeded analyst forecasts.

IBM earned US$3.9 billion, or $3.34 per share, for the three months ending in June. That compares with net income of $3.7 billion, or $3 per share, at the same time last year.

Revenue totalled $25.8 billion for the latest quarter, down from $26.7 billion last year.

News from © The Associated Press, 2012

More News ...

iN RESPONSE: Readers have their say
Following are emailed reader responses to stories or letters to the editor for the third week of April 2024. They have been edited slightly for readability. Got something you want to add? Send an email to editor Marshall Jones at mjo

Fruit packers near Kelowna fined another $78,000
A fruit packing plant in the Ellison area east of Kelowna was hit with another $78,368 in fines for discharging effluent into a failed septic field. That’s now more than $110,000 in fines since 2022 for the same issue at Sandher Fruit

Manitoba government plans to lift ban on homegrown recreational cannabis
WINNIPEG - The Manitoba government is planning to end its ban on homegrown recreational cannabis — a move that would leave Quebec as the only province with such a restriction. "We're just allowing Manitobans to have the same

Kamloops council to expand tax exemptions for new rental builds
Developers have more land to choose from if they want to cut costs on new rental buildings in Kamloops. The City is looking to expand a tax exemption program to span massive swaths of Kamloops in order to encourage development. Previously r

Popular vernon News

New Kamloops homeless drop-in centre, soup kitchen needed within weeks, not months
The City of Kamloops and local non-profit groups expect to replace the services of a drop-in support centre and soup kitchen before winter. That means more than 100 regular clients of The Lo
April 24, 2024 7:00 AM
Kamloops man accused of snatching two girls, taking them to Vancouver Island
A Kamloops man was arrested within a day after he was accused of abducting two young girls and taking them to Vancouver Island. The incident was reported to Kamloops RCMP on Monday, April 22
April 24, 2024 10:22 AM
'Heartbreaking': Kamloops residents reflect on demolition of decades-old hotel, nightclub
A building with a long and entertaining past has been demolished to make way for new housing developments on Kamloops North Shore, leaving some residents feeling nostalgic. The Northbridge H
April 21, 2024 6:00 PM
Two charged in alleged Kamloops assault and unlawful confinement
One of two people arrested in what police said was a "report involving weapons" has been released on bail. Kamloops RCMP was called to a Tk'emlups home on Kootenay Way last wee
April 23, 2024 7:00 PM
Kamloops serial rapist gets sentence doubled
Troy Schank was already in custody for rape when he pleaded guilty in a Kamloops courtroom to two more sexual assaults. The 37-year-old's time in prison doubled to five years April 22 fo
April 22, 2024 5:07 PM

Trending Now

TRENDING NOW: Kid wins European seagull impersonation contest

View Site in: Desktop | Mobile

IBM's 2nd-quarter earnings top analyst estimates while revenue falls shy of projections

Trending Now

Kamloops

Kelowna

Penticton

Vernon