IBM Reports 2011 First-Quarter Results

ARMONK, N.Y. — (BUSINESS WIRE) — April 19, 2011 — IBM (NYSE: IBM)

  • Diluted EPS:
    • GAAP: $2.31, up 17 percent;
    • Operating (non-GAAP): $2.41, up 21 percent;
  • Revenue: $24.6 billion, up 8 percent, up 5 percent adjusting for currency;
  • Net income:
    • GAAP: $2.9 billion, up 10 percent;
    • Operating (non-GAAP): $3.0 billion, up 13 percent;
  • Pre-tax income:
    • GAAP: $3.8 billion, up 9 percent;
    • Operating (non-GAAP): $4.0 billion, up 12 percent;
  • Gross profit margin:
    • GAAP: 44.1 percent, up 0.5 points;
    • Operating (non-GAAP): 44.5 percent, up 0.8 points;
  • Software revenue excluding divested PLM operations up 10 percent, 8 percent adjusting for currency; 6 percent including PLM, 4 percent adjusting for currency;
  • Systems and Technology revenue up 19 percent, 16 percent adjusting for currency;
  • System z mainframe revenue up 41 percent; MIPS up 34 percent;
  • Services revenue up 6 percent, 3 percent adjusting for currency;
  • Services backlog of $142 billion, up $8 billion;
  • Growth markets revenue up 18 percent, 12 percent adjusting for currency;
  • Business analytics revenue up 20 percent;
  • Smarter Planet revenue up 20 percent;
  • Cloud revenue 5 times first-quarter 2010 revenue;
  • Full-year 2011 Operating (non-GAAP) EPS expectations raised to at least $13.15 from at least $13.00.

IBM (NYSE: IBM) today announced first-quarter 2011 diluted earnings of $2.31 per share, compared with diluted earnings of $1.97 per share in the first quarter of 2010, an increase of 17 percent. Operating (non-GAAP) diluted earnings were $2.41 per share, compared with operating diluted earnings of $2.00 per share in the first quarter of 2010, an increase of 21 percent.

First-quarter net income was $2.9 billion compared with $2.6 billion in the first quarter of 2010, an increase of 10 percent. Operating (non-GAAP) net income was $3.0 billion compared with $2.6 billion in the first quarter of 2010, an increase of 13 percent.

Total revenues for the first quarter of 2011 of $24.6 billion increased 8 percent (5 percent, adjusting for currency) from the first quarter of 2010.

“We 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," said Samuel J. Palmisano, IBM chairman, president and chief executive officer. "We achieved broad-based margin improvement, while our cash flow and strong financial position enabled us to continue to return value to our shareholders.

"On the strength of this performance, we are raising our full-year 2011 operating earnings per share expectations to at least $13.15.”


1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
Rand3D

Featured Video
Jobs
Mechanical Engineer I for Air Techniques, Inc at Melville, NY
Proposal Support Coordinator for Keystone Aerial Surveys at Philadelphia, PA
Upcoming Events
The Rise of Mechatronics at Dassault Systèmes San Diego 5005 Wateridge Vista Drive San Diego CA - Sep 12, 2017
The Rise of Mechatronics at Buca di Beppo - Pasadena 80 West Green Street Pasadena CA - Sep 13, 2017
The Rise of Mechatronics at Dassault Systèmes Santa Clara 3979 Freedom Circle, Ste 750 Santa Clara CA - Sep 14, 2017
The 30th Annual Integrated Process Excellence Symposium & Training at Wyndham Grand Bonnet Creek Resort Orlando FL - Sep 18 - 20, 2017
Kenesto: 30 day trial
SolidCAM: Cutting Webinar



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise