IBM profits jump 54 percent

Posted on Friday, Oct 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.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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