IBM’s net income jumps 13 percent as corporate technology spending picks up
By APMonday, April 19, 2010
Summary Box: IBM’s net income jumps 13 percent
PROFIT JUMPS: IBM Corp. said Monday its first-quarter profit jumped 13 percent, while revenue climbed 5 percent.
WHAT IT MEANS: With a broad array of products and services and a global footprint, IBM is seen as a bellwether for the broader tech sector. Its results could mean businesses are starting to spend again on information technology after cutting back during the recession.
WHAT’S NEXT: IBM said it expects revenue to grow this quarter and it boosted its full-year earnings forecast.
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