IBM announced fourth-quarter revenue growth of 9 percent (1 percent at constant currency) driven by growth in all geographies. Revenues from Europe/Middle East/Africa were $9.1 billion, an increase of 17 percent (1 percent at constant currency). And for the year ended Dec. 31, 2003, revenues from continuing operations totaled $89.1 billion, up 10 percent compared with 2002 revenues of $81.2 billion.
Revenues from Europe/Middle East/Africa were $29.1 billion, an increase of 20 percent (3 percent at constant currency) from the 2002 period.
“This was a very good quarter for IBM and an encouraging end to a year in which we steadily gained momentum and posted record revenues,” said Samuel J. Palmisano, IBM chairman and CEO. “Our pretax earnings and earnings per share were up double digits for 2003, and we ended the year with more than $7.6 billion in cash. We enter 2004 with good momentum. The client buying environment is steadily improving. We are enthusiastic about our prospects for this year and beyond.”