Feeds

IBM performs as expected; shares up

Makes a change to see an IT company doing well

  • alert
  • submit to reddit

The essential guide to IT transformation

IBM has released its Q1 results and met expectations - not usually a cause for excitement, but considering the recent glut of profit warnings for IT companies, the news has seen its share price jump by up to 14 per cent.

The IT giant announced a 9 per cent increase in revenue to $21 billion. Net income was up 15 per cent on Q1 last year. The company put thanks for the increase on its services arm and microelectronics business.

IBM's CFO spoke a little about how it expects revenues to drop in line with the US economy slowdown, but it was hard to wipe the grin off his face.

What about the company's strategy? Well, the move away from big servers etc toward services (in the hope of sparking ancillary purchases) seems to be working. According to analysts, Sun and HP are now looking to do the same thing soon.

Lou Gerstner said: "The desktop segment is hurting - and it is not just a cyclical issue. This is a mature business, and it no longer drives the economics of the IT industry. Related to this, our hard disk drive and display businesses, which sell to the PC segment, were also weak." ®

Build a business case: developing custom apps

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
XBOX One will learn to play media from USB and DLNA sources
Hang on? Aren't those file formats you hardly ever see outside torrents?
Class war! Wikipedia's workers revolt again
Bourgeois paper-shufflers have 'suspended democracy', sniff unpaid proles
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.