Friday, January 17, 2003

I.B.M. Beats Earnings Expectations Again

I.B.M. Beats Earnings Expectations Again "Bolstered by the addition of the PricewaterhouseCoopers employees, revenue for the Global Services unit jumped 16.7 percent to almost $10.58 billion. Global Services signed contracts for $18.1 billion, which was roughly double the third quarter. But the quarter included a number of contracts I.B.M. had said previously had been unexpectedly pushed back from the third quarter. ...
Sales of computers and other hardware rose 1 percent, to $8.1 billion, but would have declined 1 percent without the currency translation increase. Software revenues were flat at $3.8 billion (or down 2 percent in constant dollars) compared with a year ago. Mr. Joyce said customers continued to delay software buying decisions and to make smaller purchases than in the past."

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