IBM income up 12 per cent

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IBM has announced its third quarter fiscal results for 2010 and shown a modest rise in tough economic times.

The company reported a 12 per cent rise in net income when compared to the third quarter of 2009, giving a figure of $3.6 billion (2.27 billion) compared to $3.2 billion last year.

Total revenues for the quarter were a more impressive looking $24.3 billion, but this was just a three per cent rise from the same period last year.

Samuel J. Palmisano, chief executive (CEO) of IBM, said Big Blue had grown in its hardware, software and services business.

"We achieved excellent performance in our growth markets unit, reflecting sustained investments through the downturn and the continued strength of the infrastructure build-out in these countries," he added.

Despite overall figures looking good, the company's revenues dropped six per cent in EMEA to $7.4 billion, but the company claimed to be focusing on the future with a optimistic attitude.

"Looking ahead, we are uniquely positioned in the enterprise, investing in high value segments like business analytics, advanced systems and smarter planet solutions," added Palmisano.

"As a result, we are confident we can deliver strong business performance to grow profit, return value to our shareholders and to achieve full-year 2010 diluted earnings per share of at least $11.40."

Jennifer Scott

Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.

Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.