International Busineess Machines (IBM) Corp announced earnings that beat forecasts, with second-quarter EPS rising 18% to US$2.32. On average, analysts were anticipating EPS of US$2.02.
IBM’s profits were due to an improvement in its margins (revenue growth actually slowed), showing that their strategies over the past few years are beginning to pay off. IBM raised its full-year outlook by US$0.50 to US$9.70 per share. It was the biggest percentage gainer of all Dow stocks in trading yesterday, adding 4.31% to close at US$115.41.
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