IBM has announced strong third-quarter revenues, despite a fall in its outsourcing business.
Income for the period was $3.6bn (£2.28bn), up from $3.2bn (£2bn) in the same period last year. Revenues increased by three per cent to $24.3bn (£15.3bn) year on year, and earnings per share rose by 18 per cent.
"In the third quarter we grew revenue in our hardware, software and services businesses, expanded margins and again increased earnings per share at double digits," said Sam Palmisano, IBM chairman, president and chief executive.
IBM is expecting to improve its enterprise business, claiming that its recent purchases, including Netezza, will help it to meet investor expectations.
"Looking ahead, we are uniquely positioned in the enterprise, investing in high-value segments like business analytics, advanced systems and smarter planet solutions," said Palmisano.
"As a result, we are confident we can deliver strong business performance to grow profit, return value to shareholders and achieve full-year 2010 diluted earnings per share of at least $11.40."
Revenue grew by three per cent in the US to $10.2bn, but fell by six per cent in EMEA to $7.4bn. Asia-Pacific revenues increased by 14 per cent to $5.9bn.
Server and storage sales each grew by over 20 per cent, while hardware and software revenues rose 10 and one per cent respectively. Revenues from WebSphere, Information Management, Tivoli, Lotus and Rational grew by seven per cent to $3.1bn (£1.9bn).
Outsourcing signings fell by 15 per cent to $5.7bn, but IBM said that, including an agreement signed on 8 October, the company would have reported " outsourcing signings growth of 14 per cent adjusting for currency".
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