IBM Corp. said Monday its first-quarter profit jumped 13 percent, and the company offered evidence that corporate technology spending is rebounding after the recession.
IBM said it earned $2.6 billion, or $1.97 per share, in the first three months of the year. In the same period of 2009 it earned $2.3 billion, or $1.70 per share.
The improvement came not just from cost cutting, which IBM relied on much of last year to raise profits.
In the most recent quarter, revenue climbed 5 percent to $22.9 billion.The results beat the average analyst estimate of $1.93 per share on revenue of $22.8 billion, according to Thomson Reuters.
You can read the rest of the article here but is everybody else noticing the turning of the corner from the recession or is it just the big boys (and gals)?
