Wednesday, July 23, 2008

IBM Profits Rise 22% on Services, Software

IBM manages net income growth of 22 percent selling services, software and systems in a largely international market.

IBM's second-quarter profits grew 22 percent, led by services and software revenue and sales in international markets.

IBM's revenues grew 13 percent to $26.8 billion, while net income for the period was $2.8 billion, the company said. Also, as IBM pulled $10.9 billion in revenue from its Americas sector, the company drew $15.1 billion from international markets, indicating that it might be buffered by its broad participation in worldwide and emerging markets as the economy undergoes a downturn.

IBM revenues from the Europe, Middle East and Africa market segments rose 20 percent to $9.8 billion, while revenues from the Asia-Pacific market grew 16 percent to $5.3 billion. U.S. revenues grew by 5 percent. However, overall Americas revenue grew by 8 percent, to $10.9 billion.

"IBM had an outstanding quarter and a strong first half for 2008. These results demonstrate that IBM has the ability to thrive in both emerging and established markets. Once again, IBMers performed very well around the world," Samuel Palmisano, IBM chairman, president and CEO, said in a statement.

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