IBM profit rises on strong global sales
New York - Technology colossus IBM reported second quarter income of 2.77 billion dollars Thursday, up 22 per cent over the year ago quarter on strong global growth in sales of services, hardware and software.
Revenue rose 13 per cent to 26.8 billion dollar, with 7 per cent of that growth stemming from currency gains caused by the record weakness of the US dollar.
"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," said Samuel J Palmisano, IBM chairman, president and chief executive officer.
From a geographic perspective, revenues in the Americas were up 8 per cent to 10.9 billion dollars while revenues from Europe/Middle East/Africa were 9.8 billion dollars, up 20 per cent. Asia-Pacific revenues increased 16 per cent to 5.3 billion dollars. (dpa)