International Business Machine (IBM $181.78 +6.50) reported second
quarter earnings of $3.09 per share, $0.07 better than the Capital IQ Consensus
Estimate of $3.02.
Revenues rose 12.4% year/year to $26.67 billion versus the $25.32 billion
consensus.
IBM reported second quarter gross margin of 46.8% versus the 46.0% street
expectations.
For its fiscal year 2011, the company expects to see earnings of at least $13.25
per share versus the $13.19 Capital IQ Consensus Estimate, up from prior
guidance for "at least $13.15."
The estimated services backlog at June 30 was $144 billion, up $15 billion year
over year at actual rates ($2 billion, adjusting for currency). Services revenue
was up 10%, 2% adjusting for currency. Growth markets revenue was up 23%,
13?justing for currency. Business analytics revenue was up more than 20% in the
first half. Cloud revenue are on track to double in 2011.






