IBM's Net Rises 13 Percent
International Business Machines Corp. (IBM) showed further evidence of a recovery in technology spending, posting a 13 percent rise in profit for the first quarter driven by growth in the company’s software business and emerging markets.
The wide-ranging conglomerate said it is seeing broad improvement in its business lines and raised its outlook for the full year. The outlook reflects some optimism about the business environment and the company’s long-running shift into higher-margin activities and faster-growing areas of the globe.
“We are in more of a growth mode,” IBM Chief Financial Officer Mark Loughridge said on a conference call. “I feel like we have a good hand going into the second quarter.”
