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International Business Machines Corp. Q2 adjusted earnings Beat Estimates

International Business Machines Corp. (IBM) announced earnings for second quarter that dropped from last year.

The company's earnings totaled $1.33 billion, or $1.47 per share. This compares with $1.36 billion, or $1.52 per share, in last year's second quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $2.10 billion or $2.33 per share for the period.

Analysts had expected the company to earn $2.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.5% to $18.75 billion from $18.12 billion last year.

International Business Machines Corp. earnings at a glance:

-Earnings (Q2): $2.10 Bln. vs. $1.95 Bln. last year.
-EPS (Q2): $2.33 vs. $2.18 last year.
-Analysts Estimate: $2.29
-Revenue (Q2): $18.75 Bln vs. $18.12 Bln last year.

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