IBM: Fiscal 3Q10 Financial Results

For 3Q10 fiscal quarter ended September 30, 2010, IBM’s Systems and Technology revenues were $4.3 billion, up 10% year-to-year or 11% at constant currency. Sales were driven by double-digit growth in System z, mid-range power System x, disk storage and microelectronics.

Storage hardware together with storage software increased yearly 10%.

Storage hardware revenues grew 7% year-to-year or 8% at constant currency and held share. Storage sales in its growth markets was up 23%. This growth was driven by a continued strength in high-end storage DSA1000 and XIV. Big Blue added more than 130 new customers to its XIV platform in 3Q10 and XIV hardware revenue nearly doubled, tape declined 8% but gained share.