IBM has claimed record revenues for the fourth quarter of 2010.
In the three months revenues rose to $US29 billion– up seven per cent – and net incomes hit $US5.3 billion – a rise of nine percent.
Revenue for Big Blue’s System Z mainframes was the highest climber, rising by a massive 69 percent and business analytics revenue jumped 19 percent. Services saw a more modest rise of two percent.
"We completed an outstanding year, with record profit and free cash flow, and exceeded the high end of our 2010 earnings per share roadmap objective," said Samuel J Palmisano, IBM’s chief executive (CEO).
“As IBM enters its second century, we will continue to focus on our long-term strategic initiatives – growth markets, Smarter Planet Solutions, cloud and business analytics – as we drive to achieve our new roadmap target of operating earnings per share of at least $US20 in 2015."
Yesterday, the company announced an extended partnership with UK company ARM to work on advanced 14nm semiconductor technology for mobile devices.
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