International Business Machines Corp. Earnings Fall 25% In Q2

(RTTNews) - International Business Machines Corp. (IBM) announced a profit for second quarter that declined from last year.

The company said its bottom line totaled $2.84 billion, or $2.95 per share. This was down from $3.79 billion, or $3.84 per share, in last year's second quarter.

Analysts had expected the company to earn $2.89 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.7% to $20.24 billion. This was down from $20.81 billion last year.

International Business Machines Corp. earnings at a glance:

-Earnings (Q2): $2.84 Bln. vs. $3.79 Bln. last year. -Earnings Decline (Y-o-Y): -25.1% -EPS (Q2): $2.95 vs. $3.84 last year. -EPS Decline (Y-o-Y): -23.2% -Analysts Estimate: $2.89 -Revenue (Q2): $20.24 Bln vs. $20.81 Bln last year. -Revenue Change (Y-o-Y): -2.7%

-Guidance: Full year EPS guidance: $13.50