IBM posts improved profits
US based tech giant International Business Machines Corp. has posted improved profit figures for the most recent quarter.
The company reported that their quarterly profit rose 8 percent on higher sales of software and computer services.
IBM’s net income was up at $1.84 billion, or $1.21 per share. This is up from $1.71 billion or $1.08 per share last year in the same period.
The revenues for IBM were up at $22.03 billion from $20.66 billion a year earlier. Market had expected them to post figures of around $21.9 billion.
IBM Chief Financial Officer Mark Loughridge said in a statement that they benefitted from their non-US markets as their domestic market is showing weakness.
The company added in the report that they paid nearly $5 billion for 13 acquisitions to boost sales of software and services last year.
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