IBM Earnings Show 2012 Optimism
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IBM is cautiously optimistic about its growth prospects for 2012. That's the word out of IBM's second quarter fiscal 2012 earnings call, after market close on Wednesday.
For the quarter, IBM reported revenue of $25.8 billion for a three percent year-over-year decline. While revenue declined, Net Income rose by 6 percent on a yearly basis to $3.9 billion for the quarter. Earnings Per Share came in at $3.34 for an 11 percent year-over-year gain.
IBM's income performance is seen as a positive sign for the future by IBM's Chief Financial Officer.
"When you look at it, our results demonstrate the strength of IBM’s business model, which is designed to deliver profit on a sustainable basis," Mark Loughridge, Senior Vice President and Chief Financial Officer, Finance and Enterprise Transformation, said during IBM's earnings call. "Consistent with this performance, we're increasing our full-year 2012 expectation for operating EPS to at least $15.10. This is up $0.10 from our previous view of at least $15."