IBM Beats Analyst Expectations in First Quarter

By Cindy Waxer April 20, 2011

Big Blue has beat analyst expectations with a revenue increase of eight percent from a year earlier to $24.6 billion in its first-quarter results. In fact, International Business Machines (IBM) reported a net income total of $2.9 billion, or $2.31 per share, compared to $2.6 billion, or $1.97 per share. Operating earnings were $2.41 per share, compared with operating diluted earnings of $2.00 per share in the first quarter of 2010, an increase of 21 percent.

“We delivered a strong first quarter with revenue growth across hardware, software and services and with more than 40 countries growing in double digits. We continued to see excellent momentum in our growth initiatives - smarter planet, cloud, business analytics, and growth markets - which bring together the full value of the IBM portfolio," said Samuel J. Palmisano, IBM chairman, president and chief executive officer, in a statement.

IBM made its greatest leaps and bounds in Asia-Pacific where revenues increased 12 percent to $5.9 billion. The Americas’ first-quarter revenues were $10.3 billion, an increase of 9 percent from last year while Europe/Middle East/Africa revenues were $7.8 billion, up 3 percent. As for growth markets, revenues in the BRIC countries — Brazil, Russia, India and China — increased 26 percent.

In fact growth markets are only a part of IBM’s plan to increase operating earnings per share to at least $20 in 2015. Smarter Planet Solutions, cloud and business analytics are also key focus areas for the tech giant.

In fact, IBM has long been working hard to reinvent itself from being a “boxes and wires” computer manufacturer to a bleeding-edge software company. In a recent interview with TechZone360.com’s senior contributing editor Brendan B. Read, IBM’s Doug Heintzman, director of strategy for IBM Collaboration Solutions, described how the firm is using social channel/social media and social CRM to stay ahead of the curve and connected with its customers.






Edited by Jennifer Russell

TechZone360 Contributing Editor

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