IBM net income rises 12% in Q3 on BRIC sales

Tech major IBM has reported a 12 per cent growth in net income to $3.6 billion in the third quarter of the year, boosted by strong performance of Brazil, Russia, India and China (BRIC).

Tech major IBM has reported a 12 per cent growth in net income to $3.6 billion in the third quarter of the year, boosted by strong performance of Brazil, Russia, India and China (BRIC).

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In the year-ago period, the company had a net income of $ 3.2 billion, IBM said in a statement.

The company's total revenues rose 3 per cent from the year earlier to $24.3 billion in the third quarter of 2010.

The company has attributed its good quarter earnings to robust performance of BRIC countries — Brazil, Russia, India and China as well as strength in hardware, software and services businesses.

From a geographic perspective, BRIC countries — Brazil, Russia, India and China — have emerged as the best performer with revenue rising 29 per cent.