IBM's Americas revenues up 7% in Q3

- Tuesday, October 18, 2011

IBM's Americas revenues up 7% in Q3

IBM (NYSE: IBM) saw its Americas revenues grow 7% year-on-year to US$10.9bn for the third quarter of 2011, according to financial results released by the company.

Globally, the firm generated revenues of US$26.2bn in the quarter, up 8% year-on-year.

IBM's net profit for Q3 totaled US$3.8bn, increasing 7% compared to the same period in 2010.

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Revenues in the BRIC countries - Brazil, Russia, India and China - increased 17% in Q3. Growth market revenues represented 23% of the total for the third quarter, the company said without providing hard figures.

"In the third quarter, we drove revenue growth, margin expansion and increased earnings as a result of our innovation-based strategy and continued investment in growth initiatives," company chairman, president and CEO Samuel Palmisano said.

"Growth markets delivered outstanding revenue performance across software, hardware and services, and contributed to the company's expanded margins. We also achieved strong results in Smarter Planet, business analytics and cloud," the executive added.

Use this link to access the full quarterly results.