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#Earnings Results: IBM beats on earnings, but the stock is not being rewarded

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“Earnings Results: IBM beats on earnings, but the stock is not being rewarded”

IBM shares have gained so far this year, while major indexes and other tech stocks have been pummeled

International Business Machines Corp. had a better-than-expected second quarter, but shares were not rewarded Monday as an executive warned about the effects of the strengthening dollar.

IBM IBM reported second-quarter net income of $1.39 billion, or $1.54 a share, compared with $1.47 a share in the year-ago period, while adjusted earnings, which exclude stock-based compensation expenses and other items, were $2.31 a share, up from $2.23 a share a year ago. Revenue increased to $15.54 billion from $14.22 billion in the year-ago…

Jeremy C. Owens

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Wallace Witkowski

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