IBM reports Q2 revenue of $18.75B, up 3% YoY, compared to estimates of $18.29B; revenue of Cloud & Cognitive Software unit, which includes Red Hat, is up 6% YoY (Jordan Novet/CNBC)

Jordan Novet / CNBC:
IBM reports Q2 revenue of $18.75B, up 3% YoY, compared to estimates of $18.29B; revenue of Cloud & Cognitive Software unit, which includes Red Hat, is up 6% YoY  —  - IBM surpassed expectations on the top and bottom lines.  — The company spent $1.75 billion on acquisitions in the quarter.