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IBM Reports 2012 First-Quarter Results

ARMONK, N.Y. - 17 Apr 2012: IBM (NYSE: IBM) today announced first-quarter 2012 diluted earnings of $2.61 per share, compared with diluted earnings of $2.31 per share in the first quarter of 2011, an increase of 13 percent. Operating (non-GAAP) diluted earnings were $2.78 per share, compared with operating diluted earnings of $2.41 per share in the first quarter of 2011, an increase of 15 percent.

First-quarter net income was $3.1 billion compared with $2.9 billion in the first quarter of 2011, an increase of 7 percent. Operating (non-GAAP) net income was $3.3 billion compared with $3.0 billion in the first quarter of 2011, an increase of 9 percent.

Total revenues for the first quarter of 2012 of $24.7 billion were flat (up 1 percent, adjusting for currency) from the first quarter of 2011.

“In the first quarter, we drove strong profit and earnings per share growth. We delivered another excellent software performance, expanded services margins, and continued the momentum in our growth initiatives,” said Ginni Rometty, IBM president and chief executive officer. “Our investments in growth market countries continued to generate strong revenue growth across software, hardware and services while contributing to the company’s ongoing margin expansion."

“Based on this performance, we are raising our 2012 full-year operating earnings per share expectations to at least $15.00.”

More financial details can be found in the US press release: http://www-03.ibm.com/press/us/en/pressrelease/37485.wss

Contact for journalists:

Susan Orozco
IBM Switzerland Ltd
Media Relations
twitter.com/IBMCH

Vulkanstrasse 106
CH-8010 Zürich

Tel.: +41 (0) 58 333 58 83
Mobile: +41 (0) 79 635 39 13
Mail: orozco@ch.ibm.com