IBM 2Q Results: Revenues Fall, Profits Gain

IBM IBM reported better than expect top and bottom line results in the second quarter.
The company earned 3 cents above what the street expected, recording $4.32 per share on revenues of $24.40B.  Gross Margins reached 49.1%.  

Segment revenues were reported as follows:

• Business service revenue came in at $4.53B,
• Softweare segment recorded $6.49B in revenue,
• Systems and technology segment revenues were $3.33B,
• Financing segment revenues were $504M,
• Technology segment notched revenues of $9.41B.

Globally IBM reports:

• American revenues of $10.6B,
• EMEA revenues of $7.9B,
• Asia-Pacific revenue fell to $5.3B.

Overall IBM has seen revenues fall while posting profits.

IBM shares traded down ~1.3 percent after hours on Thursday.