IBM has long been one of the top computer companies in the world, but it still has its ups and downs, even if those downs are still quite a bit more successful than most other companies could ever hope to have. The company’s latest financial reports show that the company brought in a second quarter profit of $3.23 billion, which is down from the second quarter of 2012, where the company brought in $3.88 billion.
While profit slipped, revenue also was down in the second quarter compared to last year. The profit was also down compared to what analysts thought IBM (News - Alert) would be able to bring in during the second quarter of this year. Despite these disappointing financial reports, the company is still expecting to have quite a successful 2013. When you consider that the nearly $4 billion profit in the second quarter of this year is more than some companies can expect in the entire year, or even in the next five years.
IBM can also rest easy in the knowledge that the company’s reputation is very well-protected among those who use its products. Being around for more than 25 years allows a company to do things right over and over. The company seems pretty confident that it will be able to bounce back from this rather small setback. The company expects to have plenty of success this year despite the fact that it is going to be spending a billion dollars in a workforce rebalancing charge. It appears that investors still have confidence in the company as well. In the two hours after the report was released, the company saw a rise in share price of more than two percent.