IBM Q3 net income rises 12 pct

IBM has reported a 12 pct growth in net income to 3.6 bn in the third quarter of the year.

Tech major IBM has reported a 12 per cent growth in net income to USD 3.6 billion in the third quarter of the year,boosted by strong performance of Brazil,Russia,India and China BRIC.

In the year-ago period,the company had a net income of USD 3.2 billion,IBM said in a statement.

The company8217;s total revenues rose 3 per cent from the year earlier to USD 24.3 billion in the third quarter of 2010.

The company has attributed its good quarter earnings to robust performance of BRIC countries Brazil,Russia,India and China as well as strength in hardware,software and services businesses.

From a geographic perspective,BRIC countries Brazil,Russia,India and China have emerged as the best performer with revenue rising 29 per cent.

Apart from BRIC countries,revenue from Asia-Pacific rose 14 per cent to USD 5.9 billion and climbed three per cent to USD 10.2 billion in Americas,while it was down 6 per cent to USD 7.4 billion in Europe/Middle East/Africa regions.

8220;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,8221; IBM Chairman President and Chief Executive Officer Samuel J Palmisano said.

Story continues below this ad

During the quarter,IBM has posted a revenue of USD 5.2 billion in the software segment,a one per cent increase from the year-ago period and revenues from the systems and technology segment totalled USD 4.3 billion for the quarter,up 10 per cent from the third quarter of 2009.

Besides,revenue from technology services operations grew one per cent to USD 9.5 billion.

8220;Looking ahead,we are uniquely positioned in the enterprise,investing in high value segments like business analytics,advanced systems and smarter planet solutions.

8220;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 USD 11.40,8221; Palmisano added.