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FRIDAY, NOVEMBER 27, 2009
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What Slump? Big Blue Sees Growth

IBM had a good Q4 and says its business services and software sales are solid

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(Newser) – Strong software and business-services sales—including outsourcing services, a cash cow in the current economy—pushed IBM’s profits up 12% in the fourth quarter and prompted a recession-busting forecast of continued growth for 2009, reports the Wall Street Journal. Although Big Blue's revenue fell in the quarter, its margins continued to grow.

"We are ahead of pace on our roadmap" to boosting EPS over $10 in 2010, CEO Samuel Palmisano said. IBM’s results—net income was $4.42 billion, compared to $3.95 billion a year ago—were a welcome relief from the bad news out of the tech sector lately, including Intel’s 90% net profit decline. IBM shares were up 4% overnight.

The Armonk headquarter of IBM is seen in this photo yesterday, in New York. IBM Corp. is forecasting significantly higher profits for 2009 than Wall Street expected.
The Armonk headquarter of IBM is seen in this photo yesterday, in New York. IBM Corp. is forecasting significantly higher profits for 2009 than Wall Street expected.   (AP Photo/ Louis Lanzano)
IBM surprised Wall Street yesterday, posting a solid fourth quarter and projecting an upbeat 2009.
IBM surprised Wall Street yesterday, posting a solid fourth quarter and projecting an upbeat 2009.   (AP Photo/Mark Lennihan, File)
Samuel J. Palmisano, IBM Corp.'s chairman and CEO.
Samuel J. Palmisano, IBM Corp.'s chairman and CEO.   (AP Photo/Mark Lennihan)
A worker cleans up a wall at the IBM booth on the CeBIT exhibition in Hanover, northern Germany, on Friday, Feb. 29, 2008. World's biggest IT fair opens its doors on Tuesday, March 4, and runs through Sunday, March 9, 2008.
A worker cleans up a wall at the IBM booth on the CeBIT exhibition in Hanover, northern Germany, on Friday, Feb. 29, 2008. World's biggest IT fair opens its doors on Tuesday, March 4, and runs through...   (AP Photo/Joerg Sarbach)
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