US computer giant IBM on reported that the first quarter net profit fell one percent to $2.29 billion while revenue declined 11% to 21.7 billion. Earnings per share were $1.70 up from $1.64 in the same quarter last year.
“IBM continued to perform well in a very difficult economic environment. This was due to our long-term strategic focus: shifting into software and services and divesting of commodity businesses, and creating solutions that help clients reduce cost and conserve capital. We are wll positioned to continue to make the most of the opportunties tha arise including smarter planet initiatives and other strategic options. We remain ahead of pace for 2010 roadmap of 10 dollars to 11 dollars per share” IBM Chief Executive Samuel Palmisano said.
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