IBM quarterly revenue tops estimates

IBM quarterly revenue tops estimates

(Reuters) - International Business Machines Corp on Wednesday reported second-quarter revenue that beat analysts' expectations as it benefited from growth in higher-margin businesses including cybersecurity and cloud computing.

Net income rose to $2.4 billion, or $2.61 per share, in the quarter ended June 30 from $2.33 billion, or $2.48 per share, a year earlier.

Revenue rose nearly 4 percent to $20 billion, beating analysts' average estimate of $19.29 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva)

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Updated Date: Jul 19, 2018 02:05 AM

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