IBM Earnings - 2Q/2003

IBM Earnings - 2Q/2003

July 17, 2003

I don't normally post IBM news reports, but the current earnings report got me thinking about the information technology industry more broadly so I decided to share my simple observation. In my travels to conferences around the world I have heard people say that spending for information technology is not growing, or is flat, or is down, or even non-existent. I have even heard it said that "there are absolutely no IT projects happening"! IBM is in the information technology business -- that is where nearly all of it's revenue comes from -- services, software, and hardware. If customers don't spend, there is no revenue. IBM's revenue for the the second quarter of the year was $21.6 billion. No matter how you slice it, dice it, adjust for currency, reorganizations, acquisitions or deacquisitions, it comes out to more than $200 million per day. Per day!

IBM July 17, 2003 04:22 PM