IBM Net Income Jumps 9 Percent

IBM on Monday announced second-quarter earnings of US$23.7 billion and earnings of $2.61 per share, an increase of 2 percent and 13 percent respectively over the same period last year, while net income rose 9 percent to $3.4 billion.

IBM also raised its full-year earnings outlook to least $11.25 per share.

Big Blue expects to make that number through growth investments and the rollout of new System z and Power Systems hardware, among other factors, CEO Samuel Palmisano said in a statement.

(More to follow.)

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is Chris_Kanaracus@idg.com

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