7/17/2019, 10:16 PM (Source: TeleTrader)
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IBM reports revenue of $19.2B in Q2, down 4% YoY

International Business Machines Corp. announced on Wednesday that its revenue in the second quarter of 2019 landed at $19.2 billion, down 4% year on year. The top line slightly beat Wall Street estimates and stocks rallied as much as 3.9% after the bell. Earnings advanced 7.7% to $2.81 per diluted share on a rise in net income by 3.9% to $2.5 billion. The hardware, middleware and software system said it expects full-year profit to be at least $12.45 per share in diluted terms or a minimum of an adjusted $13.9 per share.

"We continued to grow in the high-value areas of the business, led by a strong performance across our cloud and cognitive software segment. With the completion of our acquisition of Red Hat, we will provide the only true open hybrid multicloud platform in the industry, strengthening our leadership position and uniquely helping clients succeed in chapter two of their digital reinventions," IBM's chairman, president and chief executive Ginni Rometty said.

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