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IBM Global Business Services Revenues Down 10 Percent for 2009, but Margins Up

MR - IBM's Global Technology Services revenue was down 4.9 percent in U.S. dollar terms to $37.35 billion, but GTS gross margins increased by 2.4 percent to 35 percent. Global Business Services revenues decreased by 10.1 percent to 17.65 billion, with GBS gross margins increasing by 1.5 percent to 28.2 percent. Total revenues for IBM were down by 7.6 percent from $103.63 billion to $95.76 billion. Despite the revenue declines, in services revenues in particular, IBM managed to increase net profit margins by 8.8 percent to $13.43 billion, primarily driven by its shift to higher margin products and services and execution of strict expense management. Net margins were 14 percent, up 2.1 percent over fiscal '08 levels. (300 words) . . . (to read the remainder of this article, please log in below.)
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