Net income up 300 million. 2billion vs. 1.7 bil.
Well done in a tough enviornment.
>Louis V. Gerstner, Jr., IBM chairman and chief executive officer, said: "This was a solid quarter, with earnings per share up 20 percent and an acceleration of revenue growth relative to the first half of the year. We would like to have seen more revenue in the quarter, but we were held back by three items. First, demand for our microelectronics products -- from both outside customers and internal IBM customers -- far outstripped our ability to supply components. Second, the upcoming release of our new high-end server slowed demand for the System/390 family of servers. Finally, parts of our software business slowed unexpectedly in September.
"On a positive note, our services business continued to overtake the Y2K pause that pressured the first half of the year. Our PC business rebounded strongly, with particularly good demand for our server and ThinkPad products. In addition, our business in Asia continued to grow strongly," Mr. Gerstner said.< |
