IBM has announced a 9% increase in net revenue for the fourth quarter of 2009, from $4.4bn to $4.8bn, thanks to its cloud computing and Smarter Planet initiatives.
Samuel Palmisano, IBM chairman, president and chief executive, said, "In 2009, we invested in opportunities such as Smarter Planet solutions, cloud computing and advanced analytics. These new capabilities position IBM to grow as the economy recovers. The increased operational leverage we have established by creating a globally integrated enterprise will enable us to drive greater profits as revenue growth returns. We are confident about 2010 and our ability to achieve the high end of our long-term roadmap."
IBM's services and outsourcing division increased its revenue by 15%, to $11.4bn. Its WebSphere middleware division increased sales by 13%.