IBM releases numbers for third quarter

by Editor 10/17/2008 4:30:00 PM
IT giant IBM has announced diluted earnings of $2.05 per share from continuing operations in the third quarter of 2008, a 22 percent increase compared to the same period last year. IBM’s income from continuing operations in the third quarter totalled $2.8 billion, a 20 percent rise compared to 2007.

Total revenues in the third quarter amounted to $25.3 billion, five percent more than in Q3 of 2007.

IBM Global Services’ revenues grew eight percent. Global Technology Services revenues rose eight percent, while Global Business Services increased seven percent.

Samuel Palmisano, IBM chairman, president and CEO, says:

"Our results demonstrate that the combination of a steady base of recurring revenue and profits, a range of products and services that deliver value to clients worldwide, and a strong and flexible financial foundation give IBM a competitive edge in good times and tough times. These strengths along with our strategy to manage for productivity in major markets and to invest for growth in emerging countries have enabled IBM to thrive despite an economic environment that no one could have predicted. We remain confident in our full-year 2008 outlook."

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