IBM’s 2nd-quarter sales expected to dip, but profit seen higher in Thursday’s report
By APThursday, July 16, 2009
Ahead of the Bell: IBM to post 2Q results
SAN FRANCISCO — IBM Corp. will report second-quarter results Thursday amid an unsettled technology market that’s been sending mixed signals.
Investors are betting that IBM will continue to improve its profit margins.
But there are some signs the industry isn’t turning around fast enough. Analysts point to a lower-than-expected sales forecast from IBM’s chief rival, Hewlett-Packard Co., and a 16 percent sales drop in the latest quarter from another competitor, consulting and outsourcing firm Accenture Ltd.
IBM is expected to earn $2.02 per share on $23.59 billion in sales, according to analysts polled by Thomson Reuters.
Last year, profit totaled $1.97 per share on revenue of $26.82 billion.
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