On a day when the stock market continued its race to the bottom, IBM showed resilience by posting a 20 percent gain in its third-quarter net income. Much of the growth and strength derives from "international diversification, especially in emerging markets, and its emphasis on signing long-term services contracts, which account for more than half its revenue." Like Red Hat with its growing horde of deferred revenue, IBM has been thinking long-term and it's paying off. Unfortunately, IBM also reported slowing revenue growth, which isn't a good sign for technology companies. Analysts expected a 10 percent boom to $26.54 billion, but IBM instead delivered a five percent boost to $25.3 billion. It could be, as SAP's US president suggests in a Wall Street Journal article, that this reflects a momentary stumble for technology as...
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