New York, July 19 (PTI): Technology giant IBM has reported an 8.28 per cent growth in net income at $3.66 billion for the April-June quarter of 2011 against $3.38 billion in the year-ago period, driven by the robust performance of major product categories such as software, services and hardware.
Total revenues rose 12 per cent vis-a-vis the year-ago period to $26.7 billion in the second quarter of 2011.
In the second quarter, our long-term strategic investments in the companys growth initiatives again helped drive strong revenue performance, IBM chairman, president and CEO, Samuel J. Palmisano, said.
Hardware, software and services revenue grew at double digits and we achieved strong profit and free cash flow growth, he added.
The tech firms revenues from the services sector grew 10 per cent, while revenues from the software segment rose 17 per cent to $6.2 billion. Earnings from hardware operations also went up 17 per cent to $4.7 billion.
Revenues from BRIC countries — Brazil, Russia, India and China — increased 27 per cent and accounted for 22 per cent of the total geographic revenue.
During the quarter, revenues from Asia-Pacific rose 14 per cent to $6.2 billion, from Americas 10 per cent to $11.2 billion and from Europe, West Asia and Africa 16 per cent to $8.6 billion. IBM has raised its earnings guidance for the full year to at least $13.25 per share from the earlier estimate of $3.15 apiece.