Home Industry Market Mixed results for Big Blue

IBM’s second quarter earnings this year were ahead of market forecasts, although most global sales were down in a mixed result for the company.

In its latest results just released, IBM reports that software revenue was up by 5% in the second quarter (currency adjusted), while hardware revenues came in at $US3.8 billion in the quarter, representing a drop of 12% from the same quarter in 2012.

Other results were also mixed, with Power Systems revenues falling 25% in the quarter - System x down 11% and System z mainframe revenue up 10%.

In the Asia Pacific region sales fell 8%.

Globally, IBM’s second-quarter net income was $3.2 billion compared with $3.9 billion in the second quarter of 2012, a decrease of 17%, while operating (non-GAAP) net income was $3.6 billion, including workforce rebalancing charges, compared with $4.1 billion in the second quarter of 2012, a decrease of 12%.

“In the second quarter, we delivered strong performance in our higher-value software and mainframe businesses and again significantly increased our services backlog on growth in new business,” Ginni Rometty, IBM Chairman, President and CEO, said.

“Going forward, we will continue investing in our strategic growth initiatives, acquiring and divesting capabilities, re-balancing skills and taking action in the areas that are not performing.

“We expect continued improvement through the second half of the year and remain confident that we will achieve our increased 2013 operating EPS expectation of at least $16.90, excluding the $1 billion workforce rebalancing charge in the second quarter.”

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Peter Dinham

 

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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