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IBM on Monday reported better than anticipated revenue for Q2 2021, sending its shares up in after-hours trading.
Big Blue, evidently unfazed by a multi-week email disruption that s still not entirely resolved, delivered sales totaling $18.7bn for the quarter, an increase of three per cent year over year. It s the strongest revenue growth for the biz in three years. Net income, however, fell by three per cent to $1.3bn for the quarter.
That translates to non-GAAP adjusted earnings of $2.33 per share, seven per cent more than the $2.18 reported during the same period in 2020. Analysts on average expected something more like $18.3bn and diluted EPS of $2.29.
International Business Machines Corporation (NYSE:IBM) - IBM Beats On Q2 Earnings, Clocks 20% Red Hat Revenue Growth benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.