Big Blue aka IBM, despite of global crunch and top shots struggling against decreasing consumer demands has reported a 20 percent increase in net income for its third quarter.The company has also announced that its profit outlook for the full year seems undisturbed accounting the current situation.

The full financial results will be declared on Oct 16 but the preannouncement has come as a relief to technology investors who are most hit by the tumbling economy. In this week, SAP’s shares also seemed falling due to drop in business activities.

IBM has a wide spectrum like PC manufacturing, hosting services, consulting services, and others which can supposedly help its business to better withstand the crisis.

IBM has reported 20% jump in net income and revenues for the third quarter are up by 5% as compared to last year.  

The earnings have surpassed the expectations of financial analysts by $0.03 per share, but the revenue figures are lower than the expectation.

IBM has even shown its full assurance to attain earnings per share of at least $8.75, which would be an increase of 22 percent over fiscal 2007.  

Lalit Yadav/ITVoir Network