Second quarter net profits at IBM are up 22 percent, partly as a result of the ailing economy and the weakness of the US dollar. ┬á Total revenues for the quarter ending 30 June 2008 increased 12.8 percent to $26.8 billion from the second quarter of 2007, although the company said this would be only six percent after currency adjustments. Net income was $2.77 billion, up 22.3 percent from $2.26 billion a year ago.┬á┬á ÔÇ£IBM had an outstanding quarter and a strong first half for 2008.