Big Blue reports boffo numbers

Software and IT services giant IBM Corp. (IBM) reported its second quarter earnings after the market closed today and investors cheered. Big Blue busted out boffo numbers and management raised earnings projections for the coming year. Shares were up more than 3 percent in aftermarket trading.

The numbers were impressive considering the sad state of the global economy. Net income of $3.1 billion constituted a 12 percent hop over the same period last year. Gross profit margin, a key indicator, was up 4.1 percent to 18.3 percent, a sign of continued strong management at the company. On the dark side, revenue was down by 13 percent to $23.2 billion over the same period last year. But that dark cloud was out shined by management's sunny outlook and revenue projection raise.