Photo: Wikimedia Commons
We mentioned it earlier, but we wanted to emphasise it one more time.Look how much IBM’s growth rate was due to selling abroad, and then translating that currency back into weakening US dollars.
“The Americas’ second-quarter revenues were $11.2 billion, an increase of 10 per cent (8 per cent, adjusting for currency) from the 2010 period. Revenues from Europe/Middle East/Africa were $8.6 billion, up 16 per cent (3 per cent, adjusting for currency). Asia-Pacific revenues increased 14 per cent (3 per cent, adjusting for currency) to $6.2 billion.”
Just 3% growth in Asia-Pacific and MENA sans-currency effects? Pretty mediocre.