IBM: Q2 Earnings Snapshot
By AP News
Published - Jul 19, 2023, 04:33 PM ET
Last Updated - Jul 19, 2023, 04:33 PM EDT
ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported second-quarter profit of $1.58 billion.
On a per-share basis, the Armonk, New York-based company said it had net income of $1.72. Earnings, adjusted for one-time gains and costs, came to $2.18 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2 per share.
The technology and consulting company posted revenue of $15.48 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $15.54 billion.
