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IBM Beats Earnings Estimates, Shares Rise After Hours
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International Business Machines (NYSE: IBM) on Wednesday announced earnings higher than Wall Street expectations, sending shares up 1.83% in the first 20 minutes of after-hours trading to $191.70.
The company earned $3.9 billion in the second-quarter, or $3.51 a share, up from $3.7 billion, or $3.09 a share, in the year-earlier period. Analysts expected earnings per share of $3.42, according to a poll by Thomson Reuters.
Revenue in the three months was $25.8 billion, down 3.3% from $26.7 billion in the year-earlier period. This missed analyst estimates of $26.3 billion.
Shares of IBM rose 2.42% in regular trading hours to close at $188.10. Shares are up 0.83% in 2012.
-Samuel Weigley
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