IBM's first quarter shines, 2011 outlook raised

IBM reported first-quarter earnings of $2.9 billion, or $2.31 a share, as most of its businesses and product lines delivered solid growth.

IBM reported strong first-quarter earnings as most of its businesses and product lines delivered solid growth. Big Blue also raised its outlook for 2011.

The company reported earnings of $2.9 billion, or $2.31 a share, on revenue of $24.6 billion, up 8 percent from a year ago. Non-GAAP earnings were $3 billion, or $2.41 a share. Wall Street was looking for IBM to report first-quarter earnings of $2.30 a share on revenue of $24.02 billion.

As for the outlook, IBM projected 2011 non-GAAP earnings of at least $13.15 a share. Wall Street was expecting earnings of $13.08 a share.

Read more of "IBM's first quarter shines, 2011 outlook raised" at ZDNet's Between the Lines.

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.

     

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