IBM profits up 22 percent
IBM has come out with their latest revenue report and their profits are up 22 percent to $2.77 billion.
Their revenues were up at $26.8 billion. This is a 13% improvement from revenues in the same period last year.
IBM said that they gained from improvement in currency gains.
Market analyst Zach Rosenstock spoke about IBM’s performance: “Once again pretty impressive. They’re focusing outside the U.S. to ride through the domestic downturn.”
IBM Chairman, President and Chief Executive Officer Sam Palmisano said: “We feel good about our full-year outlook and our 2010 roadmap for $10 to $11 of earnings per share.”
IBM is now generating bulk of their revenues from outside the US market.
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