Net income up 20% for the quarter and expected to be up 22% for the year.
“Our results demonstrate that the combination of a steady base of recurring revenue and profits, investments for growth in emerging markets, a range of products and services that deliver value to clients, and a strong and flexible financial foundation give IBM a competitive edge in good times and tough times,” said Samuel J. Palmisano, IBM chairman, president and chief executive officer.
Unlike many Wall Street firms, IBM produces real products. Unlike many of their CEO’s, he actually runs the shop!
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