Tech giant IBM Q2 net up 8% to $3.66 bn

NEW YORK: Technology giant IBM has reported a 8.28% rise in net income to $3.66 billion for the April-June quarter of 2011, driven by the robust performance of all major product categories such as software, services and hardware.

In the second quarter of the year 2010, the company had registered a net income of $3.38 billion, IBM said in a statement. The company's total revenues rose by 12% vis-a-vis the year-ago period to $26.7 billion in the second quarter of 2011.

"In the second quarter, our long-term strategic investments in the company's growth initiatives again helped drive strong revenue performance," IBM Chairman President and CEO Samuel J Palmisano said.

The tech firm's revenues from the services sector grew 10% in the second quarter of 2011, while revenues from the software segment rose by 17% to $6.2 billion and revenues from hardware operations went up by 17% to $4.7 billion.