I.B.M., which turned 100 last month, delivered better-than-expected quarterly results Monday.
The big blue beat estimates for its second quarter, as earnings per share increased 18% year-over-year to $3.09 while revenue climbed 5%, excluding currency gains, to $26.7 billion. Net income rose 11%, to $3.8 billion.
Wall Street analysts were, on average, expecting Big Blue to post quarterly earnings of $3.03 per share on revenue of $25.35 billion.
Samuel J. Palmisano, I.B.M.’s chief executive, said in a statement that the results were evidence that the company’s long-term investments to generate growth were paying off. Those growth initiatives include large investments to build up business in fast-developing markets outside the United States and Western Europe, and acquiring companies that specialize in analyzing vast amounts of corporate and online data for insights that can increase sales and trim costs.
For the year, IBM said full-year operating earnings would rise to at least $13.25 a share, 10 cents higher than its January estimate. Analysts polled by Thomson Reuters had forecast full-year earnings of $13.22 per share.