News

IBM Projects Positive Results for Its Third Quarter

IBM expects to announce some pretty sweet news in a sour economy when it details its third-quarter 2008 earnings on Oct. 16. The expected positive news includes a 22 percent increase in diluted earnings of $2.05 per share, plus a 20 percent higher net income of $2.8 billion.

Revenue will increase five percent, to $25.3 billion, in comparison with the third-quarter 2007 revenue figure, according to IBM's announcement.

Looking beyond the quarter, the company is expecting "full-year 2008 earnings per share of at least $8.75 or year-by-year growth of 22 percent," according to a corporate news release.

IBM will provide a detailed look at its results on Oct. 16, but IBM's Chairman, President and CEO Samuel Palmisano played up the potential good news.

In a prepared statement, Palmisano said that the preliminary findings "demonstrate that the combination of a steady base of recurring revenue and profits, investments for growth in emerging markets…and a flexible financial foundation give IBM a competitive edge in good times and tough times."

About the Author

Jim Barthold is a freelance writer based in Delanco, N.J. covering a variety of technology subjects.

Featured

  • The 2020 Microsoft Product Roadmap

    From the next major update to Windows 10 to the next generations of .NET and PowerShell, here's what's on tap from Microsoft this year.

  • 2020 Microsoft Conference Calendar: For Partners, IT Pros and Developers

    Here's your guide to all the IT training sessions, partner meet-ups and annual Microsoft conferences you won't want to miss. (Now updated with COVID-19-related event changes.)

  • Microsoft Closing Most of Its Retail Stores

    Microsoft on Friday announced a major shift in its retail operations, with plans to close most of its physical Microsoft Store outlets in favor of online sales.

  • Matrix

    Microsoft, Harvard Describe Joint Privacy Initiative

    To facilitate data sharing while still preserving data privacy, Microsoft and Harvard have embarked on a set of open source tool called the "OpenDP Initiative."

RCP Update

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.