IBM (NYSE:IBM): The leading information technology and computer systems company reported its second quarter results yesterday. Net income for IBM rose to $3.66 billion ($3 per share) vs. $3.39 billion ($2.61 per share) in the same quarter a year earlier. This marks a rise of 8.2% from the year earlier quarter. Revenues also jumped 12.4% to $26.67 billion from the year earlier quarter. The company reported adjusted net income of $3.09 per share. By that measure, it beat the mean estimate of $3.01 per share. It beat the average revenue estimate of $25.35 billion. CEO Samuel J. Palmisano added, “In the second quarter our long-term strategic investments in the company’s growth initiatives again helped drive strong revenue performance. Hardware, software and services revenue grew at double digits, and we achieved strong profit and free cash flow growth.” IBM stock is up 1.67% premarket.
Competitors to Watch: Oracle Corporation (NASDAQ:ORCL), Hewlett-Packard Company (NYSE:HPQ), Microsoft Corporation (NASDAQ:MSFT), Cisco Systems, Inc. (NASDAQ:CSCO), Intel Corporation (NASDAQ:INTC), Dell Inc. (NASDAQ:DELL), Apple Inc. (NASDAQ:AAPL), EMC Corporation (NYSE:EMC), SAP AG (NYSE:SAP), and Sybase, Inc. (SY).
Wynn Resorts Ltd. (NASDAQ:WYNN): The hoteleier and casino operator reported net income that rose to $122 million (97 cents per share) vs. $52.4 million (42 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter. Revenue too rose 32.4% to $1.37 billion from the year earlier quarter.The company reported adjusted net income of $1.60 per share. By that measure, it beat the mean estimate of 99 cents per share. It beat the average revenue estimate of $1.26 billion. WYNN is up 3.46% this morning.
Competitors to Watch: Las Vegas Sands Corp. (NYSE:LVS), MGM Resorts International. (NYSE:MGM), Pinnacle Entertainment, Inc (NYSE:PNK), Melco Crown Entertainment Ltd (NASDAQ:MPEL), Boyd Gaming Corporation (NYSE:BYD), Asia Entertainment & Resources Ltd. (NASDAQ:AERL), and Monarch Casino & Resort, Inc. (NASDAQ:MCRI).