Bloomberg News

IBM CFO Loughridge Forecasts 8% Profit Jump for Second Quarter

May 23, 2013

International Business Machines Corp. (IBM:US) Chief Financial Officer Mark Loughridge predicted earnings this quarter will rise 8 percent from a year earlier, in line with estimates.

The forecast suggests that profit (IBM:US) will rise to about $3.79 a share in the period, excluding some items, up from $3.51 a year earlier. That matches the average analyst prediction (IBM:US), according to data compiled by Bloomberg.

Loughridge repeated his view that the Armonk, New York-based company’s growth in the second half of the year would be stronger, with “double-digit performance” in the fourth quarter.

He was speaking at the Barclays Global Technology, Media and Telecommunications Conference in New York.

To contact the reporter on this story: Sarah Frier in New York at

To contact the editor responsible for this story: Nick Turner at

The Good Business Issue

Companies Mentioned

  • IBM
    (International Business Machines Corp)
    • $162.34 USD
    • 0.52
    • 0.32%
Market data is delayed at least 15 minutes.
blog comments powered by Disqus