Analysts are upbeat about the potential for IBM’s software business, despite disappointing performance there in the most recent quarter.

The current consensus forecasts for IBM's forthcoming earnings stand at $2.66 per share on revenue of $16.58 billion. This reflects an increase from the year-ago quarter, which saw earnings of $2.43 per share on revenue of $15.77 billion.

International Business Machines ($IBM) is set to report its second-quarter earnings on July 23 after the market closes. Wall Street predicts that