IBM has reported net income of $3.1bn for the first quarter of 2012, up 7% compared with $2.9bn in the corresponding quarter previous year.
The company’s diluted earnings per share (EPS) were $2.61, an increase of 13% compared to diluted EPS of $2.31 in the previous year’s first quarter.
Total gross profit margin for the company was reported to be 45.1% in the first quarter of 2012 compared with 44.1% in the same quarter previous year.
IBM said its total revenues were $24.7 for the first quarter of 2012, which the company says is flat (up 1%, adjusting for currency) from the corresponding quarter of 2011.
Revenues in the Americas increased marginally by 1% to $10.5bn compared to the 2011 period, while a decline of 2% to $7.6bn was seen in revenues from Europe/Middle East/Africa. IBM recorded a 4% growth in Asia-Pacific revenues ($6.1 billion).
IBM president and chief executive officer Ginni Rometty said the company drove strong profit and earnings per share growth in the first quarter.
"We delivered another excellent software performance, expanded services margins, and continued the momentum in our growth initiatives," Rometty added.
"Our investments in growth market countries continued to generate strong revenue growth across software, hardware and services while contributing to the company’s ongoing margin expansion."
Global Technology Services segment ($10bn) is the leading contributor to the company’s total revenues with an increase of 2% compared to the prior year’s first quarter, followed by revenues from the Software segment ($5.6bn) which increased 5%.
Revenues from the company’s business analytics operations across services, software and hardware segments increased 14%; while revenues from the Systems and Technology, and Global Financing declined 7% and 5%, respectively, from the first quarter of 2011.
The company expects 2012 full-year operating diluted earnings per share to be at least $15, which exclude $0.73 per share of charges for amortisation of purchased intangible assets, other acquisition-related charges, and retirement-related charges.
