OMEN
05-06-2008, 10:50 AM
IBM Australia has bounced back from several years of declining profit with a whopping 222 per cent increase for the 2007 calendar year.
Big Blue posted $196.7 million in profit for the 12 months ending December 31, 2007, driven by double digit growth in the technology giant’s services and software divisions.
The company generated $3.96 billion in revenue last year, a 16.4 per cent increase over $3.4 billion the previous year.
IBM’s revenue growth was driven by its services business, which increased 21 per cent to $2.7 billion and its software business, growing 13 per cent to $445 million, according to statutory documents filed with the Australian Securities and Investment Commission.
However, it was unable to stem revenue losses in its global financing business, which declined for the second year running to $236 million.
The company managed a slight increase in hardware revenue, which grew five per cent to $601 million.
Over the last couple of years IBM’s profits have taken some big hits, with a 58 per cent drop to $54.8 million in 2006.
News au
Big Blue posted $196.7 million in profit for the 12 months ending December 31, 2007, driven by double digit growth in the technology giant’s services and software divisions.
The company generated $3.96 billion in revenue last year, a 16.4 per cent increase over $3.4 billion the previous year.
IBM’s revenue growth was driven by its services business, which increased 21 per cent to $2.7 billion and its software business, growing 13 per cent to $445 million, according to statutory documents filed with the Australian Securities and Investment Commission.
However, it was unable to stem revenue losses in its global financing business, which declined for the second year running to $236 million.
The company managed a slight increase in hardware revenue, which grew five per cent to $601 million.
Over the last couple of years IBM’s profits have taken some big hits, with a 58 per cent drop to $54.8 million in 2006.
News au