International Business Machines Corp.(NYSE: IBM), or IBM, just posted earnings of $1.98 EPS on $26.82 Billion in revenues. Estimates were $1.82 EPS on $25.92 Billion in revenues, according to First Call.
The company is also showing some longer-term goals. IBM said "We feel good about our full-year outlook and our 2010 road map for $10 to $11 of earnings per share."
The company’s guidance for 2008 EPS is now at $8.75, above the $8.56 estimate.
The key metric we like to look at is backlog, and the company noted itstotal services backlog sits now at $117 Billion. For whatever it isworth, that is under the $118 Billion in each of the last quarters.
The company ended with $9.8 Billion cash at the end of the quarter.Shares repurchased in the second quarter were approximately $4.7billion on a cash-paid basis and its total gross profit margin was43.2%.
Jon C. Ogg
July 17, 2008
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
