IBM DROPPED OVER 13%

ON 14 JULY, IBM FELL ABOVE 13 PER CENT. THE COMPANY RECEIVED LESS THAN EXPECTED INITIALLY IN THE SECOND QUARTER. IBM COLLECTED PRELIMINARY DATA OF $17.2 BILLION FOR THE SECOND QUARTER, AN INCREASE OF 1 PER CENT AND AN ESTIMATE OF $17.86 BILLION; OF THIS, SOFTWARE REVENUES INCREASED BY 5 PER CENT; AND INFRASTRUCTURE REVENUES DECREASED BY 7 PER CENT. DILUTION OF $2.27 PER SHARE, A 2 PER CENT DECREASE OVER THE SAME PERIOD; AND OPERATING (NON-GAAP) $2.93, A 5 PER CENT INCREASE OVER THE SAME PERIOD。