IBM wins big in emerging markets
For all the doom and gloom in technology spending in the United States and Western Europe, IBM's results suggest that there's a world of opportunity in emerging markets. IBM reported stellar earnings - three days ahead of schedule - but it's where the growth is coming from that is most interesting. Writes the Wall Street Journal:
IBM Chief Executive Officer Samuel J. Palmisano, said in a prepared statement that the improvement was "led by strong operational performance in Asia, Europe and emerging countries." IBM said it will report revenue for the quarter of $28.9 billion, up 10% from the year earlier level and about $1 billion above analysts' estimates. About six points of the gain came from currency translation, reflecting the decline in value of the dollar against the Euro and other currencies.… Read more