(RTTNews) - International Business Machines Corp. (IBM) released earnings for second quarter that declined from the same period last year.
The company's profit totaled $1.36 billion, or $1.52 per share. This compares with $2.50 billion, or $2.81 per share, in last year's second quarter.
Excluding items, International Business Machines Corp. reported adjusted earnings of $1.95 billion or $2.18 per share for the period.
Analysts had expected the company to earn $2.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 5.4% to $18.12 billion from $19.16 billion last year.
International Business Machines Corp. earnings at a glance:
-Earnings (Q2): $1.95 Bln. vs. $2.83 Bln. last year. -EPS (Q2): $2.18 vs. $3.17 last year. -Analysts Estimate: $2.07 -Revenue (Q2): $18.12 Bln vs. $19.16 Bln last year.
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