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International Business Machines (IBM) has reported its 2014 first quarter results. The corporation reported a total...
International Business Machines (IBM) has reported its 2014 first quarter results. The corporation reported a total revenue of $22.5 billion for the first quarter of 2014, down 4% from last year's revenue for the same quarter. First quarter revenues were strongest in the Americas, with $9.6 billion. Europe/Middle East/Africa marked revenues of $7.6 billion, while Asia-Pacific region revenues were $5.0 billion.
For the first quarter of 2014, revenues from global technology services were $9.3 billion, and $4.5 billion from business services. Revenues from software for the same quarter were $5.7 billion, and revenues from IBM’s key middleware products were $3.7 billion, while revenues from operating systems were $519 million.
The company's 2014 first quarter net income was $2.4 billion. Operating net income was $2.6 billion, a 22% decline from $3.4 billion in the same quarter last year.
IBM's gross profit margin was 46.9% for the first quarter of 2014, a minor drop from last year's margin of 45.6% for the same quarter.
IBM expects full-year 2014 earnings per share of 17%. Ginni Rometty, IBM's Chairman, President and CEO says, “In the first quarter, we continued to take actions to transform parts of the business and to shift aggressively to our strategic growth areas including cloud, big data analytics, social, mobile and security. As we move through 2014, we will begin to see the benefits from these actions. Over the long term, they will position us to drive growth and higher value for our clients.”
For more detailed IBM financial results and reports, please visit the quarterly earnings conference call webcast.