IBM’s second quarter results have met Wall Street estimates but the company has warned that its PC and hard drive businesses continue to be weak with signs of a slowdown in its microelectronics business and that the strong dollar would negatively impact earnings in the second half of 2001.
Earnings for quarter two were $2 billion, compared with $1.9 billion for the same period a year ago, and revenues were $21.6 billion, compared to $21.7 billion a year ago. For the first time, revenues from IBM’s Global Services business exceeded revenues from hardware sales due to the growth in IT outsourcing in the corporate market.
19-Jul-2001
