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Friday July 18, 8:26 AMSummary Box: IBM 2Q profit jumps 22 percentTHE PROFIT: IBM Corp.'s second-quarter profit rose 22 percent, easily beating Wall Street's expectations. The Armonk, N.Y.-based company is benefiting from continued strength in its services division despite growing economic worries. THE GUIDANCE: IBM raised its full-year 2008 profit guidance from $8.50 per share to $8.75 per share, a sign the company remains bullish about the prospects of its highly profitable blend of services, software and hardware. THE STOCK PRICE: IBM's stock fluctuated in after-hours trading, falling 40 cents to $126.12. Analysts chalk up the decline to general bearishness in the market and fears that even thriving companies like IBM could get dragged down by spreading economic uncertainty. |
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