IBM’s profit climbs 22%

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IBM's profit climbs 22%

IBM said first-quarter profit gained 22% as the company cut jobs and sales in emerging markets advanced.

Net income increased to $1.71 billion, or $1.08 a share, from $1.4 billion, or 84 cents, a year earlier, Armonk, New York- based IBM said in a statement today.

Read the complete story here. (Bloomberg)