English"International Business Machines" Corp. (IBM), the world"s largest provider of IT services, has seen its profit increase 12% in Q3 2010, to 3.59 billion dollars. The company had an EPS of USD 2.82, compared to USD 2.40 last year, and higher tan the EPS of USD 2.75 that analysts predicted. IBM expects an EPS of at least 11.40 USD /share, with analysts predicting 11.30 dollars/share.
IBM saw its sales increase 3% in the reporting period, to 24.3 billion dollars, beating analyst estimates: 24.1 billion.
However, the American company announced that new service and outsourcing contracts failed to meet expectation - a key indicator to predicting future revenues. New orders for IBM services dropped 7% in Q3 2010, to USD 11 billion, whereas outsourcing revenues dropped 15%, below 6 billion dollars. On the hardware side, sales of mainframe computers increased 15%.
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