IBM's profit increases and revenue growth resumes

Tuesday, 19 January 2010 13:22

Written by Aman Bansil

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SAN FRANCISCO (AP) -- IBM Corp. says it managed a 9 percent increase in profit in the last quarter as the technology company's revenue grew for the first time in a year and a half.

The revenue boost was just under 1 percent. But it is significant because some analysts have worried that without revenue growth, IBM could have trouble continuing its streak of squeezing out higher profits.

Revenue in services and software rose, while hardware fell.

The company says it expects profit of at least $11 per share in 2010. That is at the high end of IBM's previous prediction for $10 to $11 per share in profit.

Source: http://finance.yahoo.com