Shares of global information technology firm International Business Machines (IBM) gained 3.7% in extended market hours on Monday after the company reported upbeat second-quarter 2021 results. The company offers software, middleware and hardware, and provides consulting and hosting services. Adjusted earnings per share (EPS) increased 7% year-over-year to $2.33, beating the Street’s estimates of $2.29. Quarterly revenue surged 3% year-over-year to $18.7 billion and surpassed expectations of $18.29 billion. (See International Business Machines stock chart on TipRanks) Cloud & Cognitive Software revenues rose 6.1% to $6.1 billion; revenues of Global Business Services segment totaled $4.3 billion, up 11.6%; and Global Technology Services revenues remained almost flat at $6.3 billion.
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