Here are four things to know about IBM’s second quarter earnings:
1. IBM reported $19.2 billion in revenue in the most recent quarter, a 4.2 percent decrease year-over-year. The company has not reported an increase in revenue since the second quarter of 2018, when revenues rose 4 percent to $20 billion.
2. The Armonk, N.Y.-based company did, however, experience an increase in earnings in the second quarter: Profits rose nearly 4 percent year-over-year, to $2.5 billion.
3. Revenues also increased in IBM’s Cloud & Cognitive Software and Global Business Services segments, which garnered $5.6 billion and $4.2 billion, respectively. The Global Technology Services, Systems and Global Financing businesses, however, saw sharp declines in revenue.
4. IBM is waiting to update its expectations for the rest of 2019 until Aug. 2, when the company will discuss the impact of its acquisition of software firm Red Hat. The acquisition was completed on July 9, for a total of $34 billion.
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