Boston Herald - Boston Herald: IBM 2Q beats Street despite revenue slip

Boston Herald - Boston Herald

IBM 2Q beats Street despite revenue slip Jul 17th 2013, 22:12, by By Associated Press, Associated Press ARMONK, N.Y. — IBM said Wednesday that its second-quarter net income fell 17 percent as revenue slipped and it absorbed the cost of layoffs. Net income came to $3.23 billion, or $2.91 per share, down from $3.88 billion, or $3.34 per share, a year earlier. Excluding a $1 billion charge related to layoffs, IBM Corp.'s adjusted earnings came to $3.91 per share. That beat the $3.77 per share expected by analysts polled by FactSet, and IBM shares rose in after-hours trading. Media files: An IBM logo is displayed in Berlin, Vt. (image/jpeg)

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