IBM sales down in Europe

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IBM has released better results than expected with a solid jump in profits, but sales in Europe are still falling.

In its results call last night, the company announced its net income profits were up to $3.1 billion, a 12 per cent rise compared to the same period last year.

When the figures were split geographically, it showed revenue in the Europe, Middle East and Africa market (EMEA) had fallen by 20 per cent.

Samuel J. Palmisano, IBM chairman, president and chief executive, did not reference the falls in sales in his statement following the results but instead focused on the future.

He said: “We are well ahead of pace for our 2010 roadmap.”

IBM has raised its predictions accordingly, now expecting full-year 2009 earnings of at least $9.70 per share, compared with its previous expectation of at least $9.20 per share.

The drop in sales announcement comes in the same week that both Gartner and IDC released reports showing the continued drop in PC shipments globally.

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