IBMâs India revenue grows 37 percent
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IBMâs revenue from India grew by 37 percent last year, mainly on Indiaâs strong economic growth, including in industrial production.
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India&#39;s largest outsourcer, Tata Consultancy Services, Wednesday reported strong growth in revenue and profit, despite earlier concerns that the&#160;Indian outsourcing industry would be badly hit by a weak dollar, and a crisis in the U.S. subprime mortgage market.
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(InfoWorld) - India's third largest outsourcer, Wipro, Thursday reported growth in revenue and profit, although like other Indian outsourcers, it too was affected by theÂ appreciation of the Indian rupeeÂ against the U.S. dollar. The company posted total revenue of Indian rupees 41.83 billion ($1.03 billion) in the quarter ended June 30, up 34 percent over revenue in the same period last year. Net revenue was rupees 7.1 billion, up by 16 percent for the same period a year ago. Wipro, of Bangalore, has both a domestic and export business. Its export-oriented outsourcing business, called Global IT Services and Products, posted revenue of rupees 29.4 billion, up by 20 percent over the same period last year. The company's operating margin for this business was however down from the same quarter last year because of the strong rupee. The results are based on U.S. generally accepted accounting principles (GAAP), the company said. The company's export business had 72,137 employees as of June 30, which included 53,073 employees in its IT services and products business, and 19,064 employees in the BPO (business process outsourcing) services business. The company added 4,319 staff during the quarter of which 2,719 employees were added in its IT services and products business and 1,600 employees in its BPO business. During the quarter, some of the company's services lines like technology infrastructure services and software package implementation grew by over 50 percent year-on-year, while its BPO and testing services grew by over 40 percent year-on-year. The company's export business accounted for 70 percent of total revenue and 91 percent of operating income for the quarter. Wipro does not report profits separately for this business, which added 39 new outsourcing clients in the quarter.
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IBM, HP, Sun and Dell lead the market, which saw 7.7 percent revenue growth in the second quarter, compared with a year earlier.
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InfoWorld - IBM Corp. expects about $1 billion in revenue from India, as the company's hardware and services business in the local market soars.
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IBM reported a better-than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 6 percent and spurring a broader tech rally.
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IBM  reported a better-than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in Asia, Europe and emerging markets, driving its shares up as much as 10 percent and spurring a broader tech rally.
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Shares in Indian software services giant Tata Consultancy soar by 24% on their market debut.
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IBM Corp.'s expansion in developing countries shows no sign of relenting. The technology company revealed Friday that it now has 73,000 employees in India, almost a 40 percent leap from last year.
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IBM  on Thursday forecast 2008 earnings well ahead of Wall Street expectations as strong growth abroad made up for weaker results in the United States, sending its shares up 5 percent.
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(InfoWorld) - IBM's chairman, CEO and president, Sam Palmisano, declared the vendor's second-quarter fiscal 2007 financial results the company's best growth performance in six years. This quarter's strong revenue growth -- "our best since 2001" -- shows IBM's global reach and the value customers are placing on the company's expanded software line and services, he said in a statement. Palmisano added that IBM is well on its way to achieving its goals for growth through 2010, making "solid progress" on its road map for the next three years. For the second quarter of fiscal 2007, which ended June 30, IBM reported a rise in net income of 11.8 percent over the year-ago quarter to $2.3 billion on revenue up 9 percent to $23.8 billion. EPS (earnings per share) grew 19 percent to $1.55, compared to the same quarter a year ago. The results included a pre-tax gain of $81 million related to IBM's sale of its printing systems division to Ricoh. Excluding that gain, income from continuing operations was $2.2 billion, up 8 percent on the second quarter of fiscal 2006. A consensus estimate of Thomson Financial analysts, which didn't include the pre-tax gain, was that IBM would report revenue of $23.1 billion on an EPS of $1.47. IBM's revenue from the Americas rebounded during the quarter to grow 6 percent on the year-ago quarter to $10.1 billion, while revenue from Europe, the Middle East, and Africa rose 13 percent to $8.2 billion and Asia-Pacific revenue was up 10 percent to $4.6 billion. Back in April, when discussing IBM's first-quarter results, Mark Loughridge, the company's CFO, identified a slowdown in the vendor's U.S. enterprise business, particularly in the industrial, financial services, and communications sectors, in March. He didn't provide a satisfactory answer as to why the slowdown had occurred but dismissed it as more of a blip than an indicator that something serious was wrong. Loughridge predicted modest growth for IBM's overall Americas business in the second quarter. There was also good news in the most recent quarterly report about IBM's services business, which, though large, has been a stumbling block in terms of growth. Total global services revenue rose 10 percent in the second quarter, led by growth in Asia-Pacific. IBM cut costs by making two rounds ofÂ job cutsÂ in its services divisionÂ in May, affecting more than 2,800 employees. IBM's systems and technology division saw revenue growth of just 2 percent to reach $5.1 billion, while the vendor's software business increased revenue by 13 percent to $4.8 billion. Significant events for IBM occurring in the second quarter included Amazon.com paying the vendor an undisclosed amount of money toÂ settle all outstanding patent lawsuits between the two companies. They also signed a long-term patent cross-licensing agreement to end a dispute that began in 2002 and made it to the courts last year when IBM sued Amazon.com and then the online retailer countersued with both parties alleging that the other had infringed on its patents. IBM also began shipping its new dual-core Power6 microprocessor on a new midrange server, the System p 570, and started talking up blade and mainframe offerings for SMBs. The vendor also put the next major release of its DB2 database, currently known as Viper 2 and due to ship before the end of the year, into open beta testing On the acquisitions front, IBM made two purchases in June to add functionality to its Rational development tools family. The vendor firstÂ acquired Web application security vendor WatchfireÂ for an undisclosed sum and then announced plansÂ to buy Swedish software development tools company TelelogicÂ for $745 million. In other IBM news, the company announced Wednesday the retirement of Paul Horn, the current head of IBM Research. Taking over his role is John Kelly, previously senior vice president, technology and intellectual property at IBM.
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(InfoWorld) - IBM Corp. has set up a new application services facility in India's north-eastern state of West Bengal, in a city that has emerged as one of the country's key software and services hubs. The new facility is in Kolkata, the capital of West Bengal, and is equipped to have about 3,000 staff, a spokeswoman for IBM India said. She could not give a timeframe for the expansion. Kolkata has emerged as a center for IT services because of the surprisingly business-friendly policies of West Bengal's communist government. A number of multinational companies and Indian outsourcers, with bases in Bangalore, Mumbai or Delhi, have expanded to Kolkata in a bid to tap new pools of talent. IBM already has three other delivery centers in the city, and it's home to IBMâs second-largest pool of employees in India after Bangalore. The Armonk, New York, company announced in June that it isÂ investing $6 billion in IndiaÂ over the next three years. It's part of IBM's strategy to grow its presence inÂ emerging markets such as China and Brazil, because they offer vast pools of staff and also because they are attractive markets themselves. IBM had about 43,000 staff in India as of June. It has hired more staff since then for its software and business process outsourcing (BPO) operations in India, according to industry sources.
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Business & money: BBA figures for December show 37.8% fall from previous year
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India&#39;s third largest outsourcer Wipro reported a 32 percent increase in revenue in the quarter ending December 31, but profits grew by only 11 percent over the same quarter last year, reflecting&#160;higher salaries in India, and reduced margins as a result of its&#160;acquisition last year of U.S. IT services provider Infocrossing.
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Business Objects reported a 19 percent rise in revenue for the third quarter, driven by services, but earnings were dragged down by a shortfall in license revenue, recent acquisitions and legal costs.While the income figures are broadly in line with preliminary results announced on Oct. 7, the company had expected its earnings to be better. The results come about two weeks after&#160;SAP announced plans to acquire Business Objects&#160;for $6.7 billion.Earnings for the quarter fell to $6.4 million, or $0.07 per share, from $19.6 million, or $0.21 per share, a year earlier, Business Objects said. It had predicted earnings of $0.16 to $0.20 per share.The earnings reported include a charge of around $7 million, equivalent to $0.05 per share, to settle litigation with Decision Warehouse. Business Objects had previously honored Decision Warehouse as its top distributor in Latin America: the company now resells products from&#160;Hyperion, which was recently bought by Oracle, and&#160;BEA Systems, which Oracle is trying to buy.Revenue for the quarter, which ended Sept. 30, was $369 million, up 19 percent compared to a year earlier. The growth was driven by revenue from services such as product maintenance, up 27 percent, and consulting and training, up 34 percent year on year.Growth in license revenue lagged, up just 6 percent compared to a year earlier, although license revenue from all product lines continued to grow, the company said.The&#160;acquisition of Cartesis, completed on June 1, and of&#160;Inxight Software, completed on July 3, added around $21 million in revenue for the quarter.Business Objects also profited from exchange rate fluctuations: while total revenue grew 19 percent year on year, at constant currency rates it grew just 15 percent, while license revenue grew 2 percent at constant currency rates.Business Objects warned that there&#39;s more uncertainty ahead -- and not just because of SAP&#39;s bid for the company, announced Oct. 7.The unexpected shortfall in third-quarter licensing revenue, added to uncertainty about customers&#39; future spending ahead of the merger, prompted the company to withdraw previously issued financial guidance.
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IBM  reported a better- than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 5 percent and spurring a broader tech rally.
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IBM  reported a better-than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 6 percent and spurring a broader tech rally.