IBM, the world's biggest computer company, increased its first quarter sales by 11% to $22.3 billion, while profits grew by 16% to $1.60 billion, though as AP reports, "much of Big Blue's revenue gains came from weakness in the dollar".
IBM hasn't quite solved the problem of the money-losing technology group responsible for PowerPC processors, among other things, but has put it into the systems group. "Combined, the systems and technology group showed an operating profit of $170 million in the first quarter. On its own, the technology group would have lost $150 million," reports AP. This was due mainly to poor yields from 300mm wafers in East Fishkill, New York, and a decline in intellectual property revenues, IBM told EE Times.
IBM's personal systems group -- essentially the PC company -- improved its performance. It lost $11 million on a quarterly turnover of $2.8 billion.
IBM has published details here.
