<p>(Reuters) - IBM (IBM.N) raised its full-year outlook on Wednesday based on cost cutting and a strong software pipeline.</p><p>International Business Machine Corp beat second-quarter earnings estimates thanks to growth in its mainframe and software units, but missed on revenue.</p><p>"In the first half, we've had strength in Latin America and the Middle East and Africa region, but declines in some of our larger markets like China and Australia have impacted the overall performance," Chief Financial Officer Mark Loughridge said on a call with analysts.</p><p>"As we look at the second half," he said, "we have some very, very distinct tailwinds."</p><p><a href="http://www.reuters.com/article/2013/07/17/us-ibm-results-idUSBRE96G17Z20130717">Keep reading...</a></p><p>Read also:</p><p><a href="http://online.wsj.com/article/SB10001424127887323993804578612151153367448.html">IBM Struggles to Lift Revenue</a> (Wall Street Journal)</p><p><a href="http://www.forbes.com/sites/abrambrown/2013/07/17/ibms-increased-profit-outlook-offers-some-solace-to-investors/">IBM's Increased Profit Outlook Offers Some Solace To Investors</a> (Forbes)</p><p><a href="http://www.nytimes.com/2013/07/18/technology/revenue-down-at-ibm-but-its-better-than-expected.html">Revenue Falls, but Profit Tops Forecast at IBM</a> (New York Times (blog))</p><p>Explore: <a href="http://news.google.com/news/more?ncl=dwKRdkMOwWNMG1Ming7bHSvp-1i1M&ned=us">55 additional articles.</a></p>
