Turbotodd

Ruminations on IT, the digital media, and some golf thrown in for good measure.

IBM 3Q 2010 Earnings

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IBM announced its 3Q 2010 earnings a few moments ago.

The net: 3Q 2010 diluted earnings of $2.82 per share, compared with diluted earnings of $2.40 per share in the third quarter of 2009, an increase of 18 percent.

Third quarter net income was $3.6 billion compared with $3.2 billion in the third quarter of 2009, an increase of 12 percent. Total revenues for the third quarter 2010 of $24.3 billion increased 3 percent (4 percent, adjust for currency) from the third quarter of 2009.

In the press release, IBM CEO Sam Palmisano highlighted growth in the hardware, software and services businesses, as well as expanded margins and, once again, increased earnings per share at double digits.

On a forward looking basis, Palmisano noted IBM is uniquely positioned in the enterprise, investing in high value segments like business analytics, advanced systems and smarter planet solutions.

Other details:

  • Diluted earnings per share of $2.82, up 18 percent;
  • 31 consecutive quarters of EPS growth, 13 of last 15 at double digits;
  • Full-year 2010 EPS expectations raised to at least $11.40;
  • Net income of $3.6 billion, up 12 percent;
  • Net margin of 14.8 percent, up 1.1 points;
  • Revenue of $24.3 billion, up 3 percent as reported, 4 percent adjusting for currency;
  • Growth markets revenue up 16 percent, 13 percent adjusting for currency;
  • BRIC countries revenue up 29 percent, 26 percent adjusting for currency;
  • Business analytics revenue up 14 percent;
  • Systems and Technology revenue up 10 percent, 11 percent adjusting for currency;
  • System z mainframe revenue up 15 percent; MIPS up 54 percent;
  • Software revenue excluding divested PLM operations, up 4 percent, 6 percent adjusting for currency; up 1 percent including divested PLM operations;
  • Services revenue up 2 percent, as reported and adjusting for currency;
  • Services backlog of $134 billion, up $5 billion quarter to quarter, down $2 billion adjusting for currency, and flat year over year.

You can read more about IBM’s 3Q 2010 earnings here.

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Written by turbotodd

October 18, 2010 at 8:21 pm

Posted in earnings

Tagged with , , ,

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