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Market Update

Earnings on Tap: IBM

The tech giant as been continually adjusting its product portfolio, enabling the company to generate healthy profits.

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Tech giant  International Business Machines (IBM) will be reporting second-quarter results after the bell Wednesday. Earnings are likely to come in at $3.78 per share compared with $3.34 per diluted share reported in the year-ago period.

In the first quarter, the company's earnings missed Wall Street estimates, though it was only the second time in a decade that IBM's results were short of forecasts. First-quarter net profit declined 1% to $3.0 billion while total revenue fell 5% from the year ago period to $23.4 billion.

Gazala Parveen does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.