News

LatAm leads IBM 3Q06 revenue growth

Bnamericas Published: Wednesday, October 18, 2006
Latin America was the best performing region for IBM (NYSE: IBM) in terms of revenue growth in the third quarter of 2006, IBM's CFO Mark Loughridge said during a company conference call on Tuesday. Globally the company posted a net profit for the third quarter of US$2.22bn, up 46.5% compared to US$1.52bn in 3Q05, the company said in a statement. "From a product perspective, the Americas growth was driven by software. By region, the best performance came from Latin America with double-digit revenue growth," Loughridge said, without giving numbers. The emerging markets of Brazil, India, China and Russia together grew 19% in terms of revenue year-on-year. Brazil was the third strongest at 13%. India and China represented the strongest with 37% and 27% respectively, Loughridge added. Total revenues for 3Q06 were $22.6bn, up 5.1% compared to US$22.3bn in 3Q05. The company registered a net profit of US$5.95bn for the first nine months of 2006, a 25.4% increase over US$4.75bn in the same year-ago period. Geographically, the Americas region increased its revenues by 2% in the third quarter compared to 3Q05, reaching US$9.8bn. Revenues from Europe/Middle East/Africa were up 2% and Asia-Pacific revenues increased 6% over the same period.

To continue reading, subscribe to BNamericas to get all the information in this article and access to related news items and reports.

Subscribe to BNamericas and gain access to thousands of project profiles, key contacts and news.

Other projects in: ICT

Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: ICT

Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Tower One Wireless Corp.  (Tower One Wireless)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
  • Company: Teléfonos de México, S.A.B. de C.V.  (Telmex)
  • Telephones of Mexico S.A.B. de C.V. (Telmex) is a provider of telecommunications and information technology, subsidiary of Mexican América Móvil. The company offers connectivity...
  • Company: Google Inc.  (Google)
  • Google Inc. is a US multinational technology company with over 60,000 employees in more than 50 countries. It provides online advertising, the Google internet search engine, clo...