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IBM turns profit, management shuffled anyway
IBM reported a profit of $1.83 billion ($1.12 per share) on revenue of $22.27 billion for its second quarter of 2005. Not counting the sale of its PC division to Lenovo, Big Blue would have earned $1.85 billion ($1.14 per share) with revenue of $21.7 billion. IBM also paid $775 million in the quarter to settle its old Microsoft antitrust suit, but that and the Lenovo profit were balanced by a $1.7 billion charge for layoffs. IBM also announced a management reorganization.
For more on IBM's profit and shake-up:
- check out this AP article (Q2 results)
- read this News.com article (re-org)
ALSO: IBM buys e-forms software maker. Article
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