After losing Sun to Oracle, IBM earnings up

20.04.2009
On the same day it appeared to have missed its chance to buy Sun Microsystems, IBM reported that revenue for the first quarter dropped 11 percent from a year earlier and had fallen short of analyst expectations.

Total revenue for the quarter was US$21.7 billion, just under the $22.5 billion that analysts polled by Thomson Reuters had expected.

But diluted earnings per share were $1.70, a 4 percent increase over the first quarter of 2008. That beat analyst expectations of $1.66 per share. Net income, however, fell 1 percent to $2.30 billion from $2.32 billion.