IBM posts solid first quarter

Big Blue's earnings and sales were better than expected as the company's software unit posted double-digit revenue growth.

IBM's first-quarter earnings and sales were better than expected as the company's software unit posted double-digit revenue growth. The company also raised its earnings outlook for 2010.

Big Blue reported first-quarter earnings of $2.6 billion, or $1.97 a share, on revenue of $22.9 billion, up 5 percent from a year ago. Wall Street was looking for $1.93 a share on revenue of $22.7 billion, according to Thomson Reuters.

IBM said it was confident that it could grow revenue. The company also projected 2010 earnings of $11.20 a share. Wall Street was looking for $11.12 a share for 2010. IBM added that it expects revenue growth for its hardware, software and services businesses in the second quarter.

Read more of "IBM posts solid first quarter" at ZDNet's Between the Lines.

IBM
About the author

    Larry Dignan is editor in chief of ZDNet and editorial director of CNET's TechRepublic. He has covered the technology and financial-services industries since 1995.

     

    Join the discussion

    Conversation powered by Livefyre

    Don't Miss
    Hot Products
    Trending on CNET

    HOT ON CNET

    Find Your Tech Type

    Take our tech personality quiz and enter for a chance to win* high-tech specs!