IBM has reported their first quarter results for 2012. The results were mixed with a 7% increase in net income, but their revenues were flat. Net income for Q1 was $3.1 billion compared to $2.9 billion in the first quarter of 2011, which is a gain of 7%. Non-GAAP net income was $3.3 billion compared to $3 billion in the year before. Total revenue for the first quarter was $24.7 billion, which is up 1% from the year before.
?In the first quarter, we drove strong profit and earnings per share growth,? stated IBM president and CEO Ginni Rometty. ?We delivered another excellent software performance, expanded services margins, and continued the momentum in our growth initiatives. 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.?
In the Americas region, IBM made $10.5 billion, which is a 1% increase. The EMEA division brought in $7.6 billion, which is down 2%. The company’s “growth markets” increase in revenue by 9% and 40 countries hit dougle-digit growth. Revenues in Brazil, India, Russia, and China increased 10%.