Feeds

IBM piles up earnings in Q3

So glad to dump the PC business

Internet Security Threat Report 2014

IBM slipped past expectations in its third quarter results published yesterday with the offloading of its PC business to Lenovo this year still putting a shine on its numbers.

The company turned in revenues of $21.5bn for the quarter ending September 30. This was down eight per cent on the previous year. However, once the last year‘s contribution from its former PC business was stripped out, sales were up four per cent.

Operating profits from continuing operations were $2.9bn before income tax, up 33.4 per cent, while net profits were $1.5bn down 2.5 per cent. This delivered earnings per share of $0.95, after $0.32 of Homeland repatriation tax charge. Wall Street had been expecting $1.13 per share on revenues of $21.7bn.

The offloading of the PC business certainly helped spruce up the vendor’s hardware numbers. Total hardware revenues were up seven per cent to $5.1bn, when the PC business was excluded from last year’s figures. Most of the Systems and Technology lines showed revenue increases except for mainframe, which slipped four per cent on the year.

Global Services revenues were up three per cent to $11.7bn, with the vendor’s total services backlog up to $113bn. Software revenues were $3.8bn, up 5 per cent on the year.®

Beginner's guide to SSL certificates

More from The Register

next story
Docker's app containers are coming to Windows Server, says Microsoft
MS chases app deployment speeds already enjoyed by Linux devs
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
'Urika': Cray unveils new 1,500-core big data crunching monster
6TB of DRAM, 38TB of SSD flash and 120TB of disk storage
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
SDI wars: WTF is software defined infrastructure?
This time we play for ALL the marbles
Windows 10: Forget Cloudobile, put Security and Privacy First
But - dammit - It would be insane to say 'don't collect, because NSA'
Oracle hires former SAP exec for cloudy push
'We know Larry said cloud was gibberish, and insane, and idiotic, but...'
Symantec backs out of Backup Exec: Plans to can appliance in Jan
Will still provide support to existing customers
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.