Strong Overseas Growth Buoys IBM Sales

Despite a lagging US economy, there's hope for multinational tech firms overseas
By Jim O'Neill,  Newser Staff
Posted Jan 18, 2008 9:17 AM CST
Strong Overseas Growth Buoys IBM Sales
The IBM booth is shown at the National Retail Federation convention on Tuesday, Jan. 15, 2008 in New York. IBM releases a quarterly earnings report on Thursday, Jan. 17. (AP Photo/Mark Lennihan)   (Associated Press)

IBM, already weathering the economic storm that’s bedeviled many other major US companies, said sales overseas, especially in Europe and developing nations, would help it overcome trying economic conditions at home in 2008, reports the Wall Street Journal. The computer services giant said it expects annual per share earnings between $8.20 and $8.30, more than analysts had projected.

Yesterday, IBM reported solid fourth quarter-growth in Europe, where sales rose 16%; revenue growth in Asia grew 15%, while US growth was a lackluster 2%, the company said. IBM earned 63% of its revenue outside the US, up from 61% a year ago, potentially good news for other multinational tech companies struggling with US sales. (More IBM stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X