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IBM 3Q Earnings Up 6% Oct 18, 2007 |
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Strength in services overcame a surprising slide in hardware and helped third-quarter earnings rise 6% at International Business Machines Corp. From July through September, IBM earned US$2.36 billion, $1.68 per share, surpassing the profit of $2.22 billion and $1.45 per share that the company posted in the same quarter of 2006.
Revenue in the third quarter rose 7% to $24.1 billion from $22.6 billion a year ago.
Hardware revenue fell 10% to $4.9 billion. Software, IBM's most profitable segment, grew its revenue 7% to $4.7 billion. In the first nine months of the year, IBM earned $6.47 billion, or $4.42 per share, with revenue of $69.9 billion. (AP)