A weak performance in Europe and from its systems and technology hardware operations took the gloss off the first quarter for IBM.
Although Big Blue was able to deliver a set of top line numbers for the three months that ended XXX which all pointed upwards, with net income rising by 7% year-on-year to $3.1bn and flat revenues of $24.7bn, there were some problems around servers and the Eurozone.
Most vendors are finding the current situation in Europe a challenging one and IBM is no different with revenues from EMEA down by 2% to $7.6bn.
On the server front revenues from System x servers were flat and the z mainframe product line dropped year-on-year by 25%.
The software and services business grew with the middleware and websphere products growing along with global technology services revenue increasing by 20%.
Ginni Rometty, IBM president and CEO, picked on the positives pointing out that services and software had been highlights as well as the growth it was getting out of emerging markets.