IBM has more employees in China and India than Microsoft does worldwide, yet Microsoft is much more profitable. Of course, you don't care, so long as you get free downloads.
I don't care because I don't use MS products. I refuse to provide any funding for abortion.
Microsoft's business model doesn't require massive amounts of overseas employees. Microsoft needs basically only sales and supply chain support, plus some evangelism. Actual work with clients to integrate Microsoft products is usually done by local companies ("Microsoft Partners").
IBM does that with its own people since it is in large part a services company, thus the higher body count.