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Politics : Formerly About Applied Materials

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To: Proud_Infidel who wrote (29651)	4/21/1999 4:42:00 PM
From: Proud_Infidel	Read Replies (1) of 70976

IBM profit tops forecasts ARMONK, N.Y. - Computer giant IBM says its first-quarter profit rose 42% on growth in its services business. IBM earned $1.47 billion, or $1.55 a share, compared with $1.04 billion, or $1.06 a share, in the same period a year earlier. Revenue rose 15% to $20.32 billion. Analysts surveyed by First Call expected the company to earn $1.41 a share. IBM is benefiting from new contracts in its business of installing and running corporate computers, which contributes almost a third of the company's revenue. PC sales also recovered from last year's dismal first quarter, when a glut of machines forced IBM and others to slash prices.

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