IBM posts strong First Quarter

April 17, 2008: IBM has come up with a strong showing in its first-quarter 2008 results posting to the New York Stock Exchange.

In an economic climate where the US dollar has slid to the point that it’s flirting dangerously close to hitting even money with the Australian dollar, it’s become tougher for some organisations to post the continued growth of past years. Nothing of the sort seems to be slowing IBM down though, who’ve just posted a strong first-quarter 2008.

"IBM had a very good quarter, and a good start to 2008. These results reinforce our confidence in IBM's ability to perform well in a dynamic global economy. Our performance is a tribute to the way we have repositioned our company over the past several years, as well as the hard work of IBMers across the globe," said Samuel J. Palmisano, CEO and president, IBM.

Big blue posted diluted earnings of US $1.65 per share (AU $1.75), up 36%, with total revenues of US $24.5 Billion (AU $26.1 Billion), up 11%. Global Business Services continued to grow by 17%, with Software revenues up 14%. Interestingly 65% of IBM’s revenue came from outside the USA, with Asia Pacific revnues up 14%.

"We feel good about the rest of the year,” said Palmisano.

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