Foreign Sales Help I.B.M. to a Strong Quarter
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The giant technology company gave Wall Street a pleasant surprise by announcing quarterly earnings that were far higher â up 24 percent â than most analysts had forecast.
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The company, which is in the midst of restructuring its business to lift sales, reported strong revenue growth across all divisions.
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Total revenues increased by 2% to $43.3 billion, despite the appreciation of the Euro against the US dollar, mainly due to higher unit sales.
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Strong international sales growth and solid U.S. comps propel the company's stock to its highest price ever.
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High Street sales saw their strongest growth last month since mid-2006   despite recent rate rises, a report says.
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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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The economy -- helped out by more brisk consumer and business spending -- grew at an annual rate of 3.9 percent in the third quarter, a performance that was stronger than previously thought.
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Third-quarter net income rose 7.4 percent to $960 million, helped by strong demand in international markets. The company also raised its full-year profit outlook.
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The company said it earned $52 million in the fourth quarter on strong U.S. and international sales. Its shares climbed more than 7 percent in morning trading.
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The household appliance maker cited strong international growth and cost controls, but sales came in shy of Wall Street expectations, hurt by a weak U.S. market.
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In a preliminary report, I.B.M. said its fourth-quarter earnings from continuing operations rose 24 percent from a year ago, beating Wall Street expectations by a wide margin.
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3M Co , whose products range from Scotch tape to optical films for liquid crystal displays, on Friday posted a higher quarterly profit, helped by strong demand in international markets.
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Strong sales forecast, says financial officer at investment event.
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Despite a drop in U.S. revenues, Cemex rode international strength to a solid quarter.
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Foreign investment in India continues to soar, rising 65% in the first half of the year according to official figures.
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Good growth in notebook shipments during the back-to-school season coupled with desktop replacements among businesses and consumers sustained another strong quarter in Europe, the Middle East and Africa, IDC said.