Summary Box: IBM profit rises 9 pct, posts first revenue increase in a year and a half
By APTuesday, January 19, 2010
Summary Box: IBM’s profit rises 9 pct, sales grow
GROWING AGAIN: IBM says its profit rose 9 percent in the last quarter, but perhaps more importantly its revenue grew as well. IBM hadn’t increased its revenue since the third quarter of 2008.
THE CAVEAT: The revenue boost was small — about 1 percent. And without currency fluctations IBM’s revenue would have dropped 5 percent.
LOOKING AHEAD: Even the small revenue increase and a healthy number of services contract signings indicated that technology spending by corporations is picking up. IBM raised its forecast for 2010, saying it expects to earn at least $11 per share in 2010. Previously it had predicted $10 to $11 per share in profit.
YOUR VIEW POINT
