IBM revenue down

US computer giant IBM reported a higher quarterly net profit on
Thursday despite falling sales and delivered a more optimistic
outlook for the full year.    IBM, which has weathered the global
economic slowdown better than most major US corporations, said net
profit rose 14 per cent to 13.2 billion dollars, or 2.40 dollars per
share, better than the 2.38 dollars predicted by analysts.
Revenue fell seven per cent in the third quarter to 23.6 billion
dollars compared with the corresponding period a year ago but was one
per cent higher than the previous quarter, IBM said in a statement.
 The company raised its forecast for full-year earnings per share to
'at least 9.85 dollars from at least 9.70 dollars' on an improved
outlook for both software and hardware.    'Our long-term strategic
shift to higher-value businesses again enabled us to deliver
outstanding margin, earnings and cash flow growth in the third
quarter,' said IBM chairman, president and chief executive Samuel
Palmisano.    'We also saw improved revenue trends in our business
and share gains in software and hardware,' he said.    'We are
optimistic about 2009 as we again raise our full-year expectations
and we remain well ahead of pace for our 2010 roadmap of 10 dollars
to 11 dollars per share,' Palmisano said.    The company said it
signed service contracts worth 11.8 billion dollars in the quarter,
including 13 deals greater than 100 million dollars, a decrease of
seven per cent.    IBM said third-quarter revenue for the Americas
fell five per cent to 9.9 billion dollars while revenue for Europe,
the Middle East and Africa was down 12 per cent to 7.8 billion
dillars.    Asia-Pacific revenue was flat at 5.2 billion dollars.
Global Technology Services segment revenue decreased four per cent to
9.4 billion dollars while Global Business Services segment revenue
declined 11 per cent to 4.3 billion dollars.    IBM said software
revenue declined three per cent to 5.1 billion dollars while systems
and technology segment revenue dropped 12 per cent to 3.9 billion
dollars.    IBM said it ended the third quarter with 11.5 billion
dollars of cash on hand.    Shares of IBM fell 3.41 per cent in
after-hours electronic trading to 123.61 dollars.