IBM made its entrance into earnings season on Tuesday with a dazzling performance: Revenues were up to $27.23 billion, beating the analysts' forecast of $26.96 billion. Profits were $3.59 per share, well beyond the $3.47 per share forecast by the analysts, and 9 percent higher than the $3.28 per share IBM earned in the same quarter last year.
Maybe even more significant, IBM raised its outlook for 2010. Where before it had expected profits to come in between $10 and $11 per share, now it sees them coming in at $11 or more. A major American corporation that thinks its future is getting brighter - that's something we've been seeing far too little of.
Coming on the heels of Intel's positive reports last week, that's very good news. In addition to reporting earnings above analysts' expectations, Intel too noted that it had raised its expected profit margins for 2010. It's very heartening to see these technology behemoths thriving in this still-uncertain economic landscape.
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