IBM earnings up 26 percent

Posted on Wednesday, April 16 2008 @ 22:31 CEST by Thomas De Maesschalck

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.

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.

Loading Comments

Share this story!