IBM moves to rally share price with peek at 20 % Q3 profit increase

IBM provided some cheer for those looking for signs of resilience in the IT world with better than expected Q3 figures.

IBM provided some cheer for those looking for signs of resilience in the IT world with better than expected Q3 figures.

The vendor revealed its profits were up a week before it was scheduled to release earnings in an effort to improve its share price. It also indicated that it is on track to end its fiscal year on target.

The announcement had the desired effect with shares increasing this morning but it could also benefit the wider IT community, which has not had an easy week with indications from SAP that all is not well in the market.

IBM announced that profits for Q3 were up by 20% to $2.8bn. The full picture of the quarter will still be provided next week on the 16 October.

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