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IBM earnings dip as sales fall again
by Staff Writers
New York (AFP) April 20, 2015


Technology heavyweight IBM reported Monday lower profits in the first quarter following another drop in revenues, this time partly due to the strong dollar.

Earnings for the first quarter slipped 2.4 percent to $2.3 billion, while revenues dropped 11.9 percent to $19.59 billion.

Profits translated to $2.91 per share, nine cents above analysts' forecasts. But revenues lagged projections of $19.73 billion.

"Our focus on higher value through portfolio transformation and investment in key areas of the business drove continued margin expansion," said IBM chief executive Ginni Rometty in a statement after markets closed.

The tech giant said its efforts to build new businesses linked to cloud computing, mobile technology and data analysis were making progress. Cloud revenue rose more than 60 percent.

But revenues across the company continued to be challenged, falling for the 12th straight quarter.

Services revenue fell 12 percent, software revenues dropped eight percent and hardware revenues sank 23 percent. However, revenues were flat excluding currency changes and the impact of divestitures, IBM said.

IBM shares rose 0.3 percent to $166.65 in after-hours trade.

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Intel lifted by data centers, as PC market flounders
New York (AFP) April 14, 2015
US technology giant Intel said Tuesday its profits edged higher in the first quarter, as gains in its data center operations help offset weakness in the personal computer market. Profit for the quarter rose three percent from a year earlier to $2 billion, while revenues were flat at $12.8 billion. Intel has long been the dominant maker of chips for PCs but has been diversifying as the i ... read more


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