By Kimberly Chin

International Business Machines Corp.'s revenue increased in the latest quarter, boosted by its cloud, software and global services businesses as the company plans to split some of its operations this year to revive growth following a prolonged period of stagnation.

The company said second-quarter net profit was $1.33 billion, slightly lower from last year due to higher expenses. On a per-share basis, earnings were $1.47, down from $1.52 in the year-earlier quarter.

Total revenue rose 3.4% to $18.75 billion.

A consensus of analysts expected sales of $18.29 billion and earnings of $2.09 billion, according to FactSet.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

July 19, 2021 16:39 ET (20:39 GMT)

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