Jim,
Actually, IBM doing well is very, very, very good...
Another indication too, that Compaqs problems were their own and Blowhardt
Pfeiffers.
Yes, in fact, IBM mentioned that PCs and storage were up, microelectronics down in their technology area results.
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Wednesday April 21, 5:40 pm Eastern Time
IBM earns $1.5 billion in first quarter
ARMONK, N.Y., April 21 (Reuters) - International Business Machines
Corp. (IBM - news), the world's largest computer maker, said
Wednesday its first-quarter income jumped 50 percent to $1.5 billion,
exceeding Wall Street's estimates, on a 15 percent increase in revenue.
The company said its result meant income of $1.55 a share and came on sales of $20.3 billion.
Wall Street analysts surveyed by First Call Corp. had expected IBM to earn $1.41 a share.
IBM said its net income, income per share and revenues were all records for the first quarter. In
the year-earlier period, IBM earned $1 billion, or $1.06 a share, on sales of $17.6 billion.
The company said sales in the Americas increased by 13 percent to $8.8 billion; in Europe, the
Middle East and Africa by 20 percent to $6.3 billion; and in the Asia-Pacific region by 20
percent
to $3.5 billion.
Hardware sales were up 17 percent, services were up 19 percent and software up 10 percent,
IBM said.
Chairman Louis V. Gerstner Jr. noted that the technology group results were mixed, with
improvement in its personal computer and disk drive divisions, but weaker results in its
memory
chip unit.
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