IBM revenues up
Chips down, everything else up
Thursday, 17 April 2008, 08:12
IBM said its Q1 revenues rose to $24.5 billion up 11 per cent with and profit jumped 26 per cent to $2.32 billion. CEO Samuel J. Palmisano "We feel good about the rest of the year."
European and Middle Eastern revenue was up 16 per cent, US and the rest of the Americas was worth $9.9 billion and Asia leapt 14 per cent. There were positive currency fluctuation effects because the US dollar is weak.
On the sales side, services were up 17 per cent, mainframe business grew 10 per cent and software was up 14 per cent to $4.8 billion.
Hardware in total dropped 20 per cent thanks to semiconductors.
Chips. Who needs 'em, eh?
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