IBM profits jump 54 percent

Posted on Friday, October 20 2006 @ 14:01 CEST by Thomas De Maesschalck
IBM announced its financial results for Q3 2006 and reported a 54% jump in profits compared to the same time last year.
Diluted earnings per share are now $1.45, a 54% jump from the same time last year. Income from continuing operations for the third quarter was $2.2 billion, another jump from the $1.5 billion over the same period in 2005. Total debt for IBM currently stands at $22 billion. That's down from where the company ended last year, at $22.6 billion.

Total revenue reached $22.6 billion, a 5% increase from last year. Software sales accounted for a large chunk of that - $4.4 billion (9% up from 2005). Several areas of IBM's software market saw double-digit growth from last year. The company's WebSphere brand saw 30% more revenue this quarter than in Q3 2005. Information management sales also rose substantially, up 12% from last year.
More details at TG Daily.

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