Europe boost IBM results

IBM has announced fourth quarter results ahead of analyst expectations, with demand in Europe for IBM products and services...

IBM has announced fourth quarter results ahead of analyst expectations, with demand in Europe for IBM products and services outstripping other regions.

Fourth-quarter income was £1.72bn compared to £1.5bn a year ago, an increase of over 14%. Revenues increased to £15.3bn from £14.3bn, an increase of 7%.

Samuel Palmisano, IBM chief executive officer, said, "IBM delivered a powerful fourth quarter, reflecting the strength of our integrated business model. It was IBM's strongest fourth quarter ever.”

In the Americas fourth-quarter revenues were up 5%, but in Europe they rose 9%. IBM’s Global Services arm saw sales increase 10%.

The Personal Systems Group only increased sales by 2%. During the quarter IBM announced an agreement to sell the Personal Computer Division, a unit of the Personal Systems Group, to China’s Lenovo.

Instead of making PCs, IBM wants to concentrate on its business software and hardware platforms.


 

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