Summary Box: IBM raises guidance, beats Street

AP News
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Posted: Jul 18, 2011 5:20 PM
Summary Box: IBM raises guidance, beats Street

IBM'S INCOME: IBM Corp.'s earnings rose 8 percent in the latest quarter because of growth in all three of its major product categories. The results show the strength of the 100-year-old company's efforts to link its mainframes with its newer businesses, software and services.

GUIDANCE RAISED: 2011 guidance calls for at least $13.25 per share, excluding items, up from $13.15 per share.

LOFTY EXPECTATIONS: The company is subject to high expectations. IBM has consistently raised its guidance and taken the rare step of setting a specific long-term profit goal _ $20 per share in operating earnings by 2015.