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  5. IBM's CFO Says Corporate Hardware Refresh Fuels Growth: Page 2 of 2
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IBM's CFO Says Corporate Hardware Refresh Fuels Growth: Page 2 of 2

IBM's CFO said the company is finally benefiting from a long-awaited hardware refresh cycle that helped drive hardware revenues up 16 percent for its fiscal first quarter.
April 16, 2004

He noted that IBM's PSG revenue growth was fueled in large part by strong demand for mobile products.

But despite strong hardware growth, Joyce acknowledged some hiccups. He said that iSeries revenue declined seven percent for the quarter. And he said that despite PSG's 18 percent revenue growth to $2.8 billion, personal systems lost $11 million for the period.

He said that IBM was on track to meet analysts' earnings estimates for the year.

Article appears courtesy of CRN.

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