ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported second-quarter profit of $2.19 billion.
On a per-share basis, the Armonk, New York-based company said it had profit of $2.31. Earnings, adjusted for one-time gains and costs, were $2.80 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The technology and consulting company posted revenue of $16.98 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $16.58 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
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