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IBM Finance Chief Expresses Optimism Over Emerging Markets

IBM Finance Chief Expresses Optimism Over Emerging Markets

Emerging markets such as China and Brazil are presenting an increasingly high number of opportunities for global businesses, and IBM's finance chief said recently that technology company is focused on international growth while the economy remains sluggish at home.

During a conference call to discuss the company's third-quarter results, IBM CFO Mark Loughridge said that revenue from growth markets increased by 19 percent and accounted for 23 percent of the total, reported IDG News Service.

"Consistent with our model, growth markets, along with our other key growth initiatives, are driving our revenue performance," the finance boss explained, adding that such markets are not suffering from some of the financial issues seen in the U.S.

Breaking down its numbers by individual sector, IBM's software revenue increased 13 percent, total services grew 8 percent and Power Systems sales jumped by 15 percent, the news source said.

The revenue numbers were released after IBM was recently named the greenest company in America in the Newsweek 2011 Green Rankings, reported Forbes.