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IBM Reports 2003 First-Quarter Earnings
Apr 15, 2003
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On Monday, IBM announced first-quarter 2003 diluted earnings per common share of U.S. $.79 from continuing operations, an increase of 8 percent, compared with diluted earnings per common share of $.73 in the first quarter of 2002. First-quarter income from continuing operations also increased 8 percent to $1.4 billion, compared with $1.3 billion in the first-quarter 2002. Revenues from continuing operations for the first quarter were $20.1 billion, up 11 percent (4 percent at constant currency) compared with the first quarter of 2002 revenues of $18.0 billion. According to the company, the U.S. $12 billion in signings in first-quarter 2003 made it the company’s second best-performing first quarter. The company credits its e-business on demand strategy for responding to the needs of its customers for the good first-quarter results.

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