IBM Q2 Adj. Profit Tops View; Backs FY14 Earnings Outlook - Quick Facts

(RTTNews) - International Business Machines Corp. (IBM) reported net income for the second quarter of $4.1 billion or $4.12 per share, compared to $3.2 billion or $2.91 per share for the year-ago quarter.

Excluding items, operating earnings for the latest second quarter were $4.3 billion or $4.32 per share, compared to $3.6 billion or $3.22 per share in the comparable quarter last year. On average, 19 analysts polled by Thomson Reuters expected the company to earn $4.29 per share. Analysts' estimates typically exclude special items.

Total revenues for the second quarter fell 2% to $24.36 billion from $24.92 billion in the same quarter last year, while 19 analysts had a consensus revenue estimate of $24.13 billion for the second quarter.

For the full year 2014, the company continues to forecast earnings of at least $17.00 per share and operating earnings of at least $18.00 per share. Analysts currently expect the company to earn $17.87 per share for the full year 2014.