October 20, 2008 Timothy Prickett Morgan
When IBM preannounced its revenues and earnings as the market was swooning two weeks ago in an effort to calm a staggering and falling Wall Street, the company’s overall numbers gave the impression that Big Blue was nonetheless weathering the financial storm. While this may be true in the aggregate, to IBM’s credit (don’t say credit) as an IT supplier, certain portions of its business–particularly certain server lines–didn’t do so well. Decide for yourself if this is some kind of leading indicator for the rest of 2008 and maybe 2009.
IBM’s sales for the third quarter came to $25.3 billion,