Jan 24 2009
IBM shows the way in times of Economic Recession
International Business Machines (IBM) shows the way during the times of economic recession. IBM has been the leader of the technology industry and has been an example for more than two generations now. IBM announced their fourth quarter financial which reported a fiscal fourth quarter profit that exceeds the previous year’s profits by 12 percent.
IBM (IBM) reported net income of $4.43 billion, or $3.28 a share, up from $3.95 billion, or $2.80 a share, a year earlier.
The CEO of IBM Mr. Samuel Palmison said that IBM had done as expected and is about to perform even better in the next fiscal. The good news doesn’t end there, as there were no layoffs announced as the rumors were doing the rounds of hundreds of layoffs from IBM.
This only shows that companies with sound fundamentals and sensible business models will keep performing and that technology companies will most possibly remain profitable even while the banking sector and automobile sector is groping under the effects of recession.
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