News
IBM profits jump 22 per cent
Andrew Wooden Jul 18 2008, 12:43pm
Firm records massive growth during Q2
IBM’s second quarter profits are up 22 percent, with a net income of $2.8 billion.
Revenue grew 13 per cent to $26.8 billion – $10.9 billion of which came from the Americas and $15.1 billion from international markets.
According to IBM, the strong 20 per cent revenue growth in the EMEA region (bringing the figure up to $9.8 billion) demonstrates its strength in emerging as well as established markets, which may have gone some way to shielding it from the adverse economic climate which is taking its toll on other firms.
"IBM had an outstanding quarter and a strong first half for 2008,” said Samuel Palmisano, IBM chairman, president and chief executive officer. “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.”
Link: Eweek
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