Not much growth
IBM's hardware revenue for the past three months have been rubbish, according to the latest quarterly results posted by Biggish Blue
For the first quarter of 2012, IBM reported virtually no revenue growth from a year earlier, though the company posted solid gains in both net income and earnings per share. IBM reported revenue of $24.7 billion, 0.3 percent above the $24.6 billion reported for last year's first quarter. Net income was $3.1 billion, up 7 percent from the $2.9 billion a year earlier. Earnings were $2.61 per share, a 13 percent improvement from $2.31 per share in the first quarter of 2011.
Software turned out to be IBM's biggist money maker. Biggish Blue made $5.6 billion for the quarter from software, an increase of 5 percent. Middleware, including WebSphere, Tivoli, Lotus and Rational products made IBM $3.5 billion in sales, an increase of 7 percent.
Revenue from the Systems and Technology division totalled $3.7 billion for the quarter, down 7 percent. Revenue from System z mainframe server products dropped by 25 percent, while revenue from Power systems and System x systems was flat from a year earlier. Emerging markets continue to provide growth for the company as revenue for Brazil, Russia, India and China increased 10 percent for the quarter.