After having revealed the main details of its quarterly figureslast week, in a move to shore up its share price, IBM was again talking up itsposition on the day it was meant to have released its figures.
Last week, following a two year low in its share price, BigBlue revealed that it had increased profits by 20% to $25.3bn in its thirdquarter. It had the desired effect rallying the share price. Although profitswere up revenues were weakened by the strong dollar and rose by 5% to $25.3bn.
In the slot for the full announcement of its Q3 results thevendor announced yesterday that it expects to hit its long-term profit targetsand added that it held $10bn in cash and had access to funds if required.
One of the keys to future strategy appears to be anincreased concentration on emerging markets.
“Our strategy to manage for productivity in major marketsand to invest for growth in emerging countries have enabled IBM to thrivedespite an economic environment that no one could have predicted. We remain confidentin our full-year 2008 outlook,” said CEO, chairman and president of IBM SamPalmisano in a statement.