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Stories by Stacy Cowley and James Niccolai

IBM posts Q3 growth, sees IT spending increase

IBM's third-quarter revenue and income has risen over last year's quarter amid signs the economy has stabilised.
Growth in IBM's software and global services businesses offset declines in its hardware and financing units, as the company reported revenue of US$21.5 billion, 9 percent higher than last year's $19.8 billion third-quarter total. IBM's revenue fell short, however, of the $21.9 billion consensus forecast of analysts polled by Thomson First Call. IBM met the analysts' consensus earnings expectations, with income of $1.8 billion, or earnings per share of $1.02.

Written by Stacy Cowley and James Niccolai16 Oct. 03 21:00