Posted on 07/18/2006 1:38:44 PM PDT by Ernest_at_the_Beach
SAN FRANCISCO (MarketWatch) -- International Business Machines Corp. (IBM International Business Machines News
IBM ) on Tuesday reported a second-quarter profit from continuing operations of $2 billion, or $1.30 a share, compared to a profit of $1.85 billion, or $1.12 a share a year ago. Revenue fell to $21.9 billion from $22.3 billion a year ago, when the company had some sales from its now-divested personal-computer business. Analysts surveyed by Thomson First Call had forecast a profit of $1.29 a share on $21.89 billion in revenue. End of Story
They would have reported half that profit if they didn't off-shore their custom development work.
It's more like good news for the consulting industry :)
Booya!!!
At what point will the CEO's be dragged before Congress to account for their "obscene profits"?
Will their be chants of "Down with Big Computer"??
/sarcasm
And Sam Palmisano's job would have been in jeopardy for not maximizing shareholder earnings.
That is, after all, his primary job.
Heh! Heh! I'm just trying to instigate!
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