IBM reported its bright second quarter financial results for 2008 last week, zooming past Wall Street estimates to the obvious delight of Mark Loughridge, IBM's chief financial officer.

Total revenues for Q2 2008 were $26.8 billion, an increase of 13 percent. Second-quarter income was $2.8 billion compared with $2.3 billion the previous quarter. Income increased 22 percent over the second quarter of 2007.

In a conference call with investors last week, IBM Chief Financial Officer Mark Loughridge said IBM was "ahead of track" in its gains for the quarter. "I've got to say that this is one of the best quarters I've ever seen, and remember we delivered an outstanding second quarter a year ago. So these are truly powerful results." *Read more...