IBM Earnings – 2Q/2003

Posted by John Patrick on Jul 17, 2003 in IBM

IBM Earnings – 2Q/2003


July 17, 2003

IBM LogoI 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!

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