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发表于 2012-7-18 03:16 PM
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International Business Machines Corp.'s ( IBM ) second-quarter earnings increased 5.9% as the technology heavyweight's margins improved, though revenue again fell short of expectations.
The company again raised its full-year operating earnings outlook and now sees earnings of at least $15.10 a share, up from its April view of at least $15 a share. Analysts polled by Thomson Reuters had most recently forecast 2012 earnings of $15.06 a share.
IBM has benefited from its push toward higher-margin, complex businesses such as business analytics, and away from crowded fields where companies can compete on price only. While that bet has been paying off, worries have emerged the macroeconomic environment is hurting spending on technology. The company's revenue has been lighter than expected for the past couple of quarters.
The company has also been making heavy investments in emerging markets, which has helped boost revenue.
In the latest quarter, revenue in IBM's growth markets--which include Brazil , Russia , India and China --increased 2%, or 8% when adjusted for currency impacts.
Overall, IBM reported a profit of $3.88 billion , or $3.34 a share, up from $ 3.66 billion , or $3 a share, a year earlier. Operating earnings, which exclude retirement-plan costs and amortization, rose to $3.51 a share from $3.09 a share.
Revenue slid 3.3% to $25.78 billion .
Analysts most recently predicted earnings of $3.42 a share and revenue of $ 26.28 billion .
Gross margin widened to 47.6% from 46.4%.
Revenue in IBM's systems-and-technology unit, which includes its hardware business, decreased 9%. The unit has now seen year-over-year declines for three straight quarters amid tough year-ago comparisons.
The software segment's revenue was flat from a year earlier. Technology services revenue fell 2.4% while business services revenue declined 4.1%.
Services backlog fell to $136 billion from $139 billion in the first quarter.
Revenue in the Americas--IBM's largest market--was down 1%, and up 1% adjusting for currency impacts. Total sales in Europe , the Middle East and Africa decreased 9%, and was flat when adjusted for currency. Total revenue in Asia gained 2%, or up 4% adjusted for currency.
Big Blue's shares were up 1.1% to $190.25 after hours. The stock, which hit its highest level ever in April, is up 2.4% since the start of the year through the close. |
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