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IBM earnings up 26 percent

Posted on Wednesday, April 16 2008 @ 22:31:12 CEST by

Intel started a small tech rally with its good first quarter financial results yesterday and today IBM continues the party. Big Blue announced a first quarter revenue of $24.5 billion with a profit of $2.32 billion, or $1.65 per share.

Earnings are up 26 percent year-over-year thanks to strong overseas sales. With a net income of $1.65 per share IBM beat analyst expectations by 15 cents.

IBM didn't provide numbers for the second quarter but CEO Samuel Palmisano said they feel good about the rest of the year.



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