IBM Q3 results are in

IBM has announced its Q3 earnings – it posted total revenues for the third quarter, 2010 of $24.3 billion, a three percent increase from the same time last year.

Third quarter net income, says IBM, was $3.6 billion compared to $3.2 billion Q3 last year, a 12 percent increase. Diluted earnings were $2.82 per share, up $2.40 year-on-year. 

The growth, says IBM, is down to good performance in its hardware, software and services businesses. IBM’s growth markets unit did well. The Americas saw most of the revenue, accounting for $10.2 billion, up two percent year-on-year. Asia-Pacific market revenues increased by seven percent, adjusted for currency, to $5.9 billion. OEM made up $806 million, up 27 percent year-on-year. However EMEA revenues shrank six percent (or grew one percent adjusting for currency) to $7.4 billion.

IBM’s best performing segment in terms of revenue was its services, total service revenues growing two percent. Global technology services increase one percent to $9.5 billion and global business services were up five percent to $4.6 billion.

Software was almost stagnant but noted a slight increase year-on-year. Overall revenues from the software segment accounted for $5.2 billion, an increase of one percent – or two percent adjusting for currency. Middleware however grew seven percent, so that’s Tivoli, Lotus, WebSphere, accounting for $3.1 billion. Operating systems revenues of $550 million increased six percent year on year.

Total systems and technology was $4.3 billion for the quarter, which is up ten percent from the third quarter of 2009. Pre-tax, systems and technology income was $327 million which is an increase of almost 50 percent, in at 46 percent.  It also showed growth. Systems revenue increased eight percent, while revenues from Sysem x increased 30 percent. System z mainframe server revenue increased 15 percent. System storage increased seven percent and Microelectronics OEM increased 28 percent. Meanwhile, Power Systems decreased 13 percent and Retail Store products were totally flat.