IT infrastructure and solution provider, IBM announced the Q2 2009 results repeating its strong performance as in Q1. The company’s Q2 revenues were at $23.3 billion at a drop of 13%, but the net income grew at a rate of 12 % to reach $3.1 billion.

EPS rose to $ 2.32 per share as compared to $ 1.97 per share during corresponding quarter last year.

"As a result of our strategic transformation, we have a very strong business model that is delivering superior earnings, cash and client value,” said Samuel J. Palmisano, IBM chairman, president and chief executive officer.

The CEO added that the company’s strategic decision to focus on Smarter Planet solutions, business analytics and next generation data centers is paying off. “We are well ahead of pace for our 2010 roadmap of $10 to $11 per share," added the CEO.

The company now expects to register full year EPS of atleast $ 9.70 per share as compared to $ 9.20 per share expected earlier.

In Q2 the company claimed to have clicked 17 deals worth upwards of $ 100 million.

The company fared comparatively badly in Europe with revenues down 20 % in the region. Revenues in Asia-Pac and Americas were down 7 % and 9 % respectively.