Technology giant IBM posted a 6-per-cent rise in profits Wednesday, despite a 3-per-cent drop in revenues.
The high-tech services firm said it earned 3.88 billion dollars in the three months ending June, up from 3.67 billion dollars in the year-earlier period. Revenues were 25.78 billion dollars, below analysts forecasts of 26.3 billion dollars as sales in Europe fell 9 per cent compared to a year ago.
The company continued to deliver strong results in Brazil, Russia, India and China, where sales increased 5 per cent, or 12 per cent adjusted for currency.
"In the second quarter, we delivered strong profit, earnings and free cash-flow growth," IBM boss Ginni Rometty said. "Looking ahead, we are well positioned to deliver greater value to a wider range of clients and to our shareholders."
IBM raised expectations for full-year earnings for 2012 to 14.40 dollars per share, up from 14.27 dollars.
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