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18 Jul 2008
Vendor IBM enjoyed a 13 per cent increase in revenue and a 22 per cent spike in profit during 2008's second quarter.
Big Blue's worldwide revenue was up 13 per cent on Q2 2007 to $26.8bn (£13.4bn), while global profit rose 22 per cent to $2.8bn. EMEA was the company's most buoyant region, seeing revenues rise by a fifth to $9.8bn.
Services revenue increased 16 per cent with $14.7bn of services contracts signed during the quarter. Revenue from systems and technology was up 2 per cent to $5.2bn while software revenue rose by 17 per cent to $5.6bn. The firm's gross profit margin stood at 43.2 per cent, up from 41.8 per cent during Q2 2007.
Further reading
Chief executive Samuel J Palmisano said: "IBM had an outstanding quarter and a strong first half for 2008. These results demonstrate that IBM has the ability to thrive in both emerging and established markets. Once again, IBMers performed very well around the world.
"We are continuing to see the benefits of IBM's transformation in recent years. Today IBM is a company with a distinctive business model that gives us a competitive edge in a global economy. We enjoy a steady base of recurring revenue and profits, a truly global reach and scale, services and products that deliver genuine value to clients wherever they do business and a strong and flexible financial foundation that generates powerful cash flow and fuels our investment in growth opportunities."
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