Reuters: Technology News: IBM third-quarter earnings rise, revenue hurt by strong dollar

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IBM third-quarter earnings rise, revenue hurt by strong dollar Oct 16th 2012, 20:30 Tweet Share this Email Print Related News J&J profit beats as newer drugs, devices deliver 1:46pm EDT Coca-Cola's revenue misses Wall Street expectations 1:22pm EDT State Street third-quarter net rises, forex revenue plummets 1:02pm EDT Shares of Workday closed up 74 percent in trading debut Fri, Oct 12 2012 UPDATE 3-India's Infosys growth outlook disappoints investors Fri, Oct 12 2012 Analysis & Opinion Stock futures edge higher ahead of key earnings reports A man visits the stand of U.S. firm IBM at the CeBIT computer fair in Hanover in this March 2, 2010 file photo. Credit: Reuters/Thomas Peter Tue Oct 16, 2012 4:30pm EDT (Reuters) - IBM reported third-quarter revenue of $24.7 billion and net earnings of $3.9 billion as demand for its software services and tight cost management offset the effect of a stronger dollar on the technology and consulting company. International Business Machines Corp, which has shifted its focus to higher-margin software and services from tech products, said on Tuesday that earnings per share, excluding items, were $3.62, just beating average analysts' estimate of $3.61. Revenue eased 5 percent due to a negative currency impact of almost $1 billion. Wall Street had expected a decline in revenue by about 3 percent to $25.36 billion. (Reporting By Nicola Leske; Editing by Phil Berlowitz) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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