IBM reported steady second quarter earnings today, with net income rising 9 percent compared to the second quarter of 2009, to $3.4 billion. Big Blue’s diluted earnings increased 13 percent to $2.61 per share compared with diluted earnings of $2.32 per share in the second quarter of 2009, beating the street estimate of $2.58 per share.

Total revenues for quarter came in at $23.7 billion, a 2 percent increase from the second quarter of 2009, but falling below analyst expectations of $24.2 billion The impact of changes in currency rates since IBM’s first-quarter earnings report in April reduced revenue by approximately $500 million in the second quarter.



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