IBM Reports 2015 Second-Quarter Results

21 Jul

IBM today announced second-quarter 2015 diluted earnings from continuing operations of $3.58 per share, down 15 percent year-to-year. Operating (non-GAAP) diluted earnings from continuing operations were $3.84 per share, compared with operating diluted earnings of $4.43 per share in the second quarter of 2014, a decrease of 13 percent.

Second-quarter net income from continuing operations was $3.5 billion compared with $4.3 billion in the second quarter of 2014, a decrease of 17 percent. Operating (non-GAAP) net income was $3.8 billion compared with $4.5 billion in the second quarter of 2014, a decrease of 15 percent, significantly impacted by currency, an increase in workforce rebalancing charges, and a year-earlier gain from the divestiture of the customer care outsourcing business.

For the second-quarter of 2015, IBM reported consolidated net income of $3.4 billion or $3.50 of diluted earnings per share, including operating net losses in discontinued operations related to the Microelectronics business.

Total revenues from continuing operations for the second quarter of 2015 of $20.8 billion were down 13 percent (down 1 percent, adjusting for currency and the divested System x business) from the second quarter of 2014.

“Our results for the first half of 2015 demonstrate that we continue to transform our business to higher value and return value to shareholders. We expanded margins, continued to innovate across our portfolio and delivered strong growth in our strategic imperatives of cloud, analytics and engagement, which are becoming a significant part of our business,” said Ginni Rometty, IBM chairman, president and chief executive officer.

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