IBM has reported total revenues of $26.2b for the third quarter of 2011, an increase of 8% from the $24.3b in the same quarter previous year.
The company’s third-quarter diluted earnings were $3.19 per share, an increase of 13% compared with diluted earnings of $2.82 per share in the third quarter of 2010.
Third-quarter net income was $3.8b, up 7% compared with $3.6b in the same quarter previous year, while operating (non-GAAP) net income was $4b compared with $3.6b in the third quarter of 2010, an increase of 9%.
IBM chairman, president and chief executive officer Samuel Palmisano said in the third quarter, they drove revenue growth, margin expansion and increased earnings as a result of our innovation-based strategy and continued investment in growth initiatives.
"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," Palmisano said.
In terms of geography, the Americas’ third-quarter revenues were $10.9b, an increase of 7% from the 2010 period, while revenues from Europe/Middle East/Africa were $8b, up 9% and Asia-Pacific revenues increased 10% to $6.5b.
Revenues in the BRIC countries – Brazil, Russia, India and China – increased 17%, as growth markets revenue represents 23% of IBM’s total geographic revenue for the third quarter, the company said.
Revenues from the Software segment were $5.8b, an increase of 13%, while revenues from the Systems and Technology segment totalled $4.5b for the quarter, up 4% from the third quarter of 2010.
The company’s total gross profit margin was 46.5% in the 2011 third quarter compared with 45.3% in the 2010 third-quarter period, while total operating (non-GAAP) gross profit margin was 46.8% in the 2011 third quarter compared with 45.4% in same quarter previous year.
IBM raised its expectations for full-year 2011 GAAP diluted earnings per share to at least $12.95 from at least $12.87; and operating (non-GAAP) diluted earnings per share to at least $13.35 from at least $13.25.
