IBM enjoys healthy revenue and profit growth

Profit growth outpaced turnover at IBM in the second quarter

IBM saw second quarter profit rise 22.3 per cent to $2.8bn (£1.4bn), compared with $2.3bn for the same period the year before.

Revenue was up 12.8 per cent to $26.8bn compared with $23.8bn for the second quarter of 2007.

But for the half year, profit was up 23.9 per cent to $5.1bn compared with $4.1bn for the first half of 2007.

IBM is upbeat about the rest of the year, said Samuel Palmisano, IBM chairman, president and chief executive officer.

"IBM had an outstanding quarter and a strong first half for 2008. These results demonstrate that IBM has the ability to thrive in both emerging and established markets," he said.

"We feel good about our full-year outlook and our 2010 roadmap for $10 to $11 of earnings per share."