IBM sees Americas revenues up 9% to US$10.3bn during Q1

Wednesday, April 20, 2011

IBM (NYSE: IBM) saw its Americas revenues grow 9% year-over-year to US$10.3bn during the first quarter of 2011, according to financial results released by the company.

Without providing figures, IBM said it saw its growth market revenues increase 18% compared with the same period last year. These markets represented 21% of the company's total revenue for the quarter.

The BRIC countries - Brazil, Russia, India and China - grew 26% during Q1. According to IBM chairman, president and CEO Samuel Palmisano, the company saw double-digit growth in more than 40 countries.

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IBM reported US$24.6bn in global revenue during Q1, growing 8% compared with the same period last year. Net profit for the company was up 10% to US$2.9bn, from US$2.6bn in 1Q10.

Palmisano said IBM saw revenue growth across hardware, software and services with momentum in growth initiatives such as smarter planet, cloud, business analytics and growth markets.

Use this link to view the full results.