IBM reports 14% profit growth for Q3 and raises outlook
IBM | Quote | Chart | News | PowerRating -- IT giant IBM (NYSE: IBM | Quote | Chart | News | PowerRating) on Thursday reported net income of USD3.2bn
for the third quarter of 2009, up 14% from USD2.8bn in the third
quarter last year.
Diluted earnings per share increased by 18% to USD2.40 per share from
USD2.04 in the 2008 third quarter.
Total revenues for the third quarter of 2009 amounted to USD23.6bn.
This shows a year-on-year decline of 7% (5% when adjusted for currency)
but is up 1% from the second quarter of 2009.
Samuel J Palmisano, IBM's chairman, president and CEO, said that the
company saw improved revenue trends in its business and market share
gains in hardware and software.
IBM has raised its full-year 2009 earnings guidance to at least USD9.85
per share compared with its previous forecast of at least USD9.70 per
share.
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