IBM pushed its second-quarter earnings per share up 11% year over year, while the world’s high-tech gorilla’s quarterly revenue declined (but not by quite as much). As a result, the company raised the amount of earnings per share it expected to deliver for the full year by $0.10.

IBM reported a net income of US$3.9bn on $25.8bn in sales for the quarter. Revenue was down 3% year over year.

The company said its earnings per share (EPS) for the quarter were $3.34, compared to $3 for the same period last year. The Wall Street Journal said this was the 38^th consecutive quarter IBM had reported year-over-year growth in quarterly earnings.

Ginni Rometty, IBM’s president and CEO, said the company had its long-term growth strategy to thank for higher EPS. “This performance reflects continued strength in our growth initiatives and investments in higher value opportunities,” she said. “These are fundamental elements of our long-term business model.”

IBM has raised its full-year EPS expectations from $15 to $15.10.

As always, companies in the Americas spent the most on IBM products and services during the second quarter. IBM’s Q2 revenue for the quarter was $11.1bn.

Countries in Europe, Middle East and Africa (EMEA) combined gave $7.9bn to IBM, while customers in Asia-Pacific generated $6.3bn in revenue for the company.

While creating the smallest percentage of overall revenue for IBM, Asia-Pacific was the only region where revenue grew. Revenue from the region was up 2%.

EMEA revenue declined 9%, and revenues from the Americas were down 1%.