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NewsIBM Posts Sturdy Q2 Results Despite the Economic Downturn

Posted 07/18/08 at 03:03:57 PM by Pulkit Chandna

IBM’s Q2 results paint an idyllic picture as the company not only surpassed financial pundits’ expectations but also defied the gloom that currently shrouds the US economy. The company reported sales worth $26.8 billion in the second quarter and announced a profit of $2.77 billion – up 22%. The better-than-predicted result prompted IBM to revise its financial guidance upwards and now expects to earn $8.75 per share this year. The company has developed a strong immunity against the economic downturn due to the highly consolidated nature of its business and global reach. Its IT service division that caters to disparate businesses remains sturdy as ever.

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