Technology major IBM saw its second-quarter profit rise by 10 per cent to USD

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3.4 billion on the back of an overall good business performance.

The entity had posted a profit of USD 3.1 billion in the same period of the previous year.

"... We again delivered double-digit earnings-per-share growth, increased margins, as well as improving constant currency revenue performance in our ongoing software, services and hardware businesses, and in all geographies," IBM Chairman, President and CEO Samuel J Palmisano said.

For the three months ended June 2010, the company's revenue increased by 2 per cent to USD 23.7 billion as compared to the year-ago period.

"The impact of changes in currency rates since IBM's first-quarter earnings report in April reduced the revenue by approximately USD 500 million in the second quarter," it noted in a statement on Monday.

Second-quarter revenues from the Global Technology Services division went up to USD 9.2 billion while that of the Global Business Services segment climbed to USD 4.5 billion.

According to the company, revenues from BRIC (Brazil, Russia India and China) jumped by 22 per cent for the three months ended June 2010.

At the end of the second quarter, IBM had USD 12.2 billion in cash.