IBM, Intel post higher quarterly earnings

SAN FRANCISCO (Reuters) - International Business Machines Corp (IBM.N), the world's largest technology services company, reported higher quarterly earnings on Tuesday.

Intel Corp (INTC.O) posted a 43 percent increase in quarterly profit, helped by higher sales of notebook personal computer microprocessors and its restructuring efforts.

Yahoo was set to report earnings later on Tuesday.

IBM (IBM.N) Story: ID:nWNAS6545

Intel (INTC.O) Story: ID:nWNAS6549

COMMENTARY:

IBM

SHAW WU, ANALYST, AMERICAN TECHNOLOGY RESEARCH, HAS A BUY

RATING ON IBM

"It looks like the services business was better than expected. Both hardware and software was a little light, but services made up for that. Bookings at $11.8 billion came in at the high end of expectations."

"Overall results were in line. They came in a penny better than consensus. Some people were expecting better, including us at $1.70, but results were still in line. They were not outstanding but were not a miss."

RICHARD SICHEL, CHIEF INVESTMENT OFFICER, The PHILADELPHIA

TRUST CO

"From what I can see, it looks like the earnings came through about as expected. Revenues were a bit better and I think the upside is sales in the service area continue to grow. I think that's key."

"I did see the stock immediately sold down a point or so. I think it takes a little time to sort out IBM's earnings."