IBM Takes It Up (IBM)

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By Douglas A. McIntyre Updated Published
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Ibm_logo_nyc_2International 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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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