US computer giant IBM has lifted its forecast for this year after reporting better than expected results for the first quarter of this year, helped by a pick-up in technology spending.
IBM said its net profit grew 13% from a year earlier to $2.6 billion, with revenue rising by 5% to a better than expected $22.9 billion.
The company's chairman, president and chief executive Samuel Palmisano said he expected full-year earnings per share of at least $11.20, better than the $11 forecast previously.
IBM was the latest technology company to report improved results. Intel, the world's biggest computer chip maker, last week posted a nearly four-fold rise in quarterly net profit.
IBM said software revenue was up 11%, while revenue from systems and technology grew by 5% and services revenue was up 4%.
Revenue from the Americas grew 2%, but Asia-Pacific revenue increased 10%.
