IBM has reported revenue of $24.6bn for the first quarter of 2011, up 7.7%, compared $22.9bn for the same period last year.
The company posted a total gross profit margin of 44.1%, up 0.5 percentage points compared to 43.6% in the first quarter of previous year.
For the first quarter of 2011, net income increased 10.1% to $2.9bn, compared to $2.6bn for the same period a year ago. The diluted earnings increased 17.3% to $2.31 per share from $1.97 per share.
Geographically, the America’s revenue increased 9% to $10.3bn and the revenue from the Europe/Middle East/Africa increased 3% to $7.8bn, while Asia-Pacific revenues increased 12% to $5.9bn.
Total global technology services revenue increased 5.7% year-on-year, global business services segment revenue increased 6.4% to $5bn, and software segment revenue increased 6.3% to $6.1bn compared to same period a year ago.
The revenue from the systems and technology segment rose 19.8% to $4.3bn and revenue from IBM’s global financing were $1.1bn, an increase of 7.7% compared to same period last year.
IBM chairman, president and chief executive officer Samuel Palmisano said they delivered a strong first quarter with revenue growth across hardware, software and services and with more than 40 countries growing in double digits.
"We continued to see excellent momentum in our growth initiatives – smarter planet, cloud, business analytics, and growth markets – which bring together the full value of the IBM portfolio," Palmisano said.
"On the strength of this performance, we are raising our full-year 2011 operating earnings per share expectations to at least $13.15."
