IBM has helped to boost US and world economic confidence by posting strong growth in revenue and profits for the fourth quarter of 2007 and the year as a whole.
The company reported fourth-quarter revenue of $28,9-billion, an increase of 10% over the fourth quarter of 2006.
In addition, Big Blue reported full-year 2007 revenue of $98,8 billion, an increase of 8%,.
IBM’s cash balance at the end of 2007 was more than $16-billion, with strong free cash flow performance.
“The broad scope of IBM’s global business – led by strong operational performance in Asia, Europe and emerging countries – drove these outstanding results,” says Samuel Palmisano, IBM chairman, president and CEO.
"IBM is well-positioned as we begin 2008 as a result of our global business reach, solid recurring revenue stream and strong financial position. We are on track to achieve our long-term earnings-per-share roadmap objective in 2010.”
Full results will be available on January 17.