IBM posted a slip of 11 per cent in quarterly revenue on year, after losing Sun Microsystems to Oracle this week.
Revenue for the first quarter of the year fell to $21.7 billion from the first quarter of 2008, while income slipped one per cent to $2.3 billion.
IBM said it was doing well despite the economy, largely because of cost controls. "IBM continued to perform well in a very difficult economic environment," said Samuel J. Palmisano, IBM's chairman, president and chief executive officer, in a statement. He said refocusing on software and services helped the firm."At the same time we have a disciplined approach to cost and expense management giving us a strong financial position," Palmisano added. IBM noted that it won 16 services deals worth over $100 million in the quarter.
Despite its failed bid for Sun which Oracle managed to successfully pickup for $7.4 billion this week IBM still plans acquisitions.
"We are well-positioned to continue to move aggressively and leverage our strong cash performance to make the most of the opportunities that arise, including smarter planet initiatives and other strategic options," Palmisano said.
-
Should AI PCs be part of your next hardware refresh?AI PCs are fast becoming a business staple and a surefire way to future-proof your business
-
Westcon-Comstor and Vectra AI launch brace of new channel initiativesNews Westcon-Comstor and Vectra AI have announced the launch of two new channel growth initiatives focused on the managed security service provider (MSSP) space and AWS Marketplace.
-
IBM completes HashiCorp acquisition after regulatory approvalNews IBM has completed its $6.4 billion acquisition of cloud automation and security firm HashiCorp,
-
IBM eyes Oracle expertise gains with latest acquisition
News The deal aims to help IBM address the complexities of public sector cloud transformation
-
UK regulator to investigate IBM takeover of HashiCorp
News The CMA is concerned that the merger could affect competition in the cloud services market
-
Channel Focus: All you need to know about IBM's partner programHow Big Blue seeks to go deep, tackling enterprise complexity: A brief guide to the role of partners in IBM's plan to accelerate software and consulting sales.
-
Put AI to work for talent managementWhitepaper Change the way we define jobs and the skills required to support business and employee needs
-
Let’s rethink the recruiting processwhitepaper If you designed your recruiting process for a new company, what would you automate to attract and hire the best talent?
-
The power of AI & automation: Productivity and agilitywhitepaper To perform at its peak, automation requires incessant data from across the organization and partner ecosystem.
-
Everything you need to know about IBM’s HashiCorp acquisitionNews IBM’s acquisition of HashiCorp represents a major signal of intent for the tech giant and its hybrid cloud and AI ambitions
