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Websphere News Desk Recession Costs IBM
Big Blue said its first quarter came up short on revenues
By: Maureen O'Gara
Apr. 24, 2009 04:15 PM
After letting Sun go to Oracle, an outcome seen as a problem for IBM, Big Blue said its first quarter came up short on revenues.
Hardware revenue was off 23%. Service revenue was down 10%. Software revenues were down 6% to $4.5 billion. Demand for mission-critical software was strongest; transformational stuff not so much. The fastest growth was in Rational development tools (19%), followed by WebSphere (14%) and Tivoli (8%). Mainframe revenues were down 12% though MIPS were up 18%. IBM reaffirmed its full-year guidance of at least $9.20 a share and said it was ahead of its 2010 target of $10-$11.
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The total was $21.7 billion, down 11% against a consensus of $22.5 billion with earnings of $2.3 billion, off 1% year-over-year.
