Big Blue Poised to Turn PC Profit

Posted by accountingweb on Jul 21 2000 110 printer friendly

Better than expected 2nd Quarter earnings encouraged IBM to remain confident that its ailing PC division will turn a profit by the end of the year.

The Personal Systems division includes notebook computers, desktop PCs and low-end servers. Since 1998, the division has lost $1.5 billion.

The report was made by IBM's CFO John Joyce in a statement connected to the release of the earnings, who said the company's change in business strategy and product focus seems to be working. One analyst from Goldman Sachs in New York agreed with Joyce that the division could see profits sometime in the near future.

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