IBM’s Net Rises 7.1 Percent on Slight Revenue Growth
International Business Machines Corp.’s IBM first-quarter earnings rose 7.1 percent as the technology heavyweight reported higher revenue from its software and services business and improved margins, though hardware sales slipped.
The company also raised its full-year earnings projection.
IBM has consistently moved to higher-margin businesses and away from crowded fields where price competition can be steep. IBM last week agreed to acquire Varicent Software Inc., which provides software that analyzes compensation and sales performance, for an undisclosed amount.