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Big Blue's Buried News

6:00 PM -- IBM's understated earnings report is a mixed message. Net income is down, and overall revenues slipped 8 percent year-over-year, thanks in part to IBM's abandonment of the PC business. (See IBM Releases Results .)

Inside IBM's many-layered revenue structure, storage gleams a bit better:

    Hardware revenues for the Systems and Technology Group totaled $5.0 billion for the quarter, up 7 percent... In addition to eServers, revenues from Storage Systems and Microelectronics increased 11 percent and 14 percent, respectively. [Emphasis added]

There's more good news on the software side:

    Revenues from Tivoli software, infrastructure software that enables customers to centrally manage networks and storage, increased 8 percent... [Emphasis added.]

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