RPT-IBM beats revenue estimates as company focuses on big data, cloud
WASHINGTON, July 17
WASHINGTON, July 17 (Reuters) - International Business Machines Corp reported higher than expected quarterly revenue, as it continued to divest low performing sectors and shift to higher-end businesses such as big data, cloud computing, and security and mobile services.
Total revenue fell 2 percent to $24.4 billion in the second quarter, above analysts' average estimate of $24.1 billion.
The world's largest technology services company's net profit rose to $4.1 billion, or $4.12 per share, from $3.2 billion, or $2.91 per share, a year earlier.
(Reporting by Marina Lopes; Editing by Richard Chang)