International Business Machines (IBM) has recorded an 8 per cent net income in Q2 when compared to last year’s financials, but it wasn’t enough to stop its share prices from dropping.
The increase in revenue is being attributed to its strong sales of computers and software, as reported by the BBC.
In its 100th year of operation, IBM is the biggest maker of mainframe computers, and turned over 3.41 billion compared, up from the previous year’s 3.18 billion.
Although the figures beat expectations, the company’s share price dropped.
“I’m a little confused as to why the shares are down because the margins were very strong and the revenue, especially in the second quarter when you expect softer revenue, makes it look like they did well in the quarter” said Kim Caughey, senior analyst at Fort Pitt Capital Group.
