IBM net profit -17% but shares up after it lifts guidance.

 IBM's (IBM) Q2 net profit dropped 17% to $3.2B as the company took a restructuring charge of $1B, although adjusted EPS of $3.91 beat expectations. Revenue slipped 4.2% to $24.92B and missed forecasts as IBM's hardware division continued to struggle. However, software was strong, profit margins rose, and new contract signings at its major services, such as data analysis, grew sharply. IBM also boosted its FY EPS guidance by $0.20 to at least $16.90. Shares were +2.6% premarket.