Citing a strong growth rate in orders, International Business Machines Corp. said yesterday that its second-quarter profits rose 24.4 percent from a year earlier on a 16.8 percent jump in revenue.

Meanwhile, Westinghouse Electric Corp. and CBS Inc. reported slight dips in second-quarter profits despite higher revenues, while the owner of Atari consumer electronics, Warner Communications Inc., posted a 60 percent year-to-year gain in the second quarter, and Time Inc. had a 9 percent drop in profits from continuing operations.

IBM's earnings increase was higher than many analysts had projected. But IBM, the world's leading maker of data processing equipment and the nation's eighth-largest industrial concern, said profits still were affected adversely by a stronger U.S. dollar relative to other currencies and by high inflation rates and sluggish economies in several of the countries in which it operates. About 48 percent of IBM's revenues come from foreign operations.

Second-quarter net income was $1 billion ($1.68 a share) compared with $804 million ($1.37) a year earlier. Revenue rose to $8.053 billion from $6.895 billion.

First-half net income increased by 15.3 percent to $1.77 billion ($2.98) from $1.53 billion ($2.62) in the comparable 1981 period as revenue rose 13.2 percent to $15.12 billion from $13.36 billion.

IBM said sales accounted for $3.614 billion of its gross income in the latest quarter, rentals for $2.843 billion and services for $1.596 billion.

Westinghouse Electric Corp. said yesterday that its sales rose 3.8 percent, but earnings declined 1.2 percent in the second quarter compared with the same period a year ago.

Net income totaled $110.4 million ($1.28 a share), down from $111.8 million ($1.31) in the 1981 second quarter. Sales totaled $2.47 billion compared with $2.38 billion.

But first-half earnings rose to $234.8 million ($2.72) from $230.3 million ($2.69) as sales increased to $4.81 billion from $4.5 billion a year ago.

"The decline in operating margins during the first half reflects in large measure general economic conditions," said Westinghouse Chairman Robert Kirby.

Other income in this year's second quarter included proceeds from the sale of tax benefits of $32.6 million, which helped net income by $5.5 million. The effective tax rate is lower in 1982 than a year ago, largely due to a reduction in domestic income and higher investment tax credits, the company said.

CBS Inc., which owns the CBS television network, reported yesterday that profits dipped 1 percent in the second quarter, although revenues were up.

Earnings were $46.1 million ($1.64 a share) in the latest quarter compared with $46.8 million ($1.72) a year earlier. Revenues rose to $1.03 billion from $988.4 million.

First-half profits were down 9 percent to $58.3 million ($2.08) from $63.6 million ($2.37) during the same period in 1981. Revenue rose to $2.04 billion from $1.97 billion.

"Given the poor economic climate in this country and abroad, we are satisfied with our first-half results, particularly considering the substantially increased level of development activity we are expensing in 1982," said CBS President Thomas H. Wyman.

"At the same time, we continue to be apprehensive about the second half of 1982 should the projected recovery not materialize," he said.

Second-quarter revenues rose 12 percent for the broadcast group, but fell 2 percent for the records group and 13 percent for the Columbia group, which includes musical instruments and specialty retailing.

Revenues for the publishing group were up 6 percent, however.

Warner Communications Inc., whose Atari sales have been booming, reported yesterday that second-quarter profits rose 60 percent to $68.2 million ($1.05 a share) from $42.6 million (66 cents) in the same period a year ago as revenue increased 34 percent to $907 million from $676.3 million.

In the consumer electronics division, responsible for the popular Atari video games, sales more than doubled to $461.1 million from $203.5 million.

First-half profits rose 59 percent to $146.1 million ($2.25) from $92.1 million ($1.47) as revenues climbed to $1.8 billion from $1.3 billion. Consumer electronics division sales rose to $881.9 million from $353.5 million.

Besides consumer electronics, Warner Communications has interests in films, recorded music and music publishing, direct-response marketing, publishing and cable television. The company also owns the Cosmos soccer team.

Time Inc. said yesterday that its second-quarter earnings from continuing operations fell 9 percent from the comparable 1981 period, mainly because of lower profits from its book publishing and forest-product operations

The diversified communications company said it earned $47.0 million (75 cents a share) in the April-June quarter compared with $51.9 million (84 cents) on continuing operations in the same period last year. Revenue rose 7.7 percent, to $906.5 million from $841.6 million.

Net income in the 1981 second quarter was $49.2 million (80 cents) after accounting for $2.7 million in losses from its Washington Star newspaper, which was closed later in the year.

For the first half of this year, Time said it earned $74.7 million ($1.18), down 19.3 percent from $92.6 million ($1.52) on continuing operations in the same period last year. Revenue rose 9 percent to $1.71 billion from $1.57 billion.

Time's first-half net income for 1981 was $76.0 million ($1.25) after accounting for a $16.6 million loss from the Washington Star and Time-Life Films, which stopped doing business in the 1981 first quarter.