IBM Q1 profit jumps 26%

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IBM Q1 profit jumps 26%

Quarterly profits at leaped 26 percent and blew past analysts’ forecasts Wednesday, with U.S. operations showing surprising strength given the faltering economy. The technology company also increased its earnings forecast for the year. In the first quarter, Armonk, N.Y.-based IBM earned $2.32 billion, or $1.65 per share, well ahead of its profit of $1.84 billion, or $1.21 per share, in the same period of 2007.

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