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.

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