Reports Q2 (Jun) earnings of $3.09 per share, $0.07 better than the Capital IQ Consensus Estimate of $3.02; revenues rose 12.4% year/year to $26.67 bln vs the $25.32 bln consensus. IBM reported Q2 gross margin of 46.8% vs 46.0% street expectations. Co issues upside guidance for FY11, sees EPS of at least $13.25 vs. $13.19 Capital IQ Consensus Estimate, up from prior guidance for "at least $13.15"... The estimated services backlog at June 30 was $144 billion, up $15 billion year over year at actual rates ($2 billion, adjusting for currency). Services revenue was up 10%, 2% adjusting for currency. Growth markets revenue was up 23%, 13justing for currency. Business analytics revenue was up more than 20% in the first half. Cloud revenue are on track to double in 2011.