IBM Earnings Drop a Bit

Susan Hall

Even stalwart IBM is feeling a bit of heat from the recession. Big Blue reported net income fell 1 percent in the first quarter. It blamed currency fluctuations and weak technology spending, according to a Dow Jones story in The Wall Street Journal.


That news was overshadowed Monday by Oracle's plans to buy Sun Microsystemsafter IBM walked away.


Whether IBM met Wall Street estimates depends on which estimates you look at, as this Bloomberg story and this piece attest.


The company has been "aggressively managing" its costs, which has translated to layoffs in the United States and moving work to less expensive locations, but that plays well on Wall Street.

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