OREANDA-NEWS. IBM (NYSE: IBM) today announced first-quarter 2015 diluted earnings from continuing operations of \$2.44 per share, flat year-to-year.  Operating (non-GAAP) diluted earnings from continuing operations were \$2.91 per share, compared with operating diluted earnings of \$2.68 per share in the first quarter of 2014, an increase of 9 percent.

First-quarter net income from continuing operations was \$2.4 billion, down 5 percent year-to-year, including the impact of \$0.2 billion in pension-related pre-tax charges for IBM Spain in the first quarter of 2015, resulting from a court ruling in Spain.  Operating (non-GAAP) net income from continuing operations was \$2.9 billion compared with \$2.8 billion in the first quarter of 2014, an increase of 4 percent.  GAAP and Operating (non-GAAP) results include workforce rebalancing charges of \$0.3 billion in the first quarter of 2015 and \$0.9 billion in the year-ago period.

For the first-quarter of 2015, IBM reported consolidated net income of \$2.3 billion or \$2.35 of diluted earnings per share, including operating net losses in discontinued operations related to the Microelectronics business.

Total revenues from continuing operations for the first quarter of 2015 of \$19.6 billion were down 12 percent, flat year-to-year adjusting for currency and divested businesses, from the first quarter of 2014. 

"In the first quarter we had a strong start to the year.  Our strategic imperatives growth rate accelerated, demonstrating the power of our offerings in these new opportunities and contributing to improved revenue performance.  Our focus on higher value through portfolio transformation and investment in key areas of the business drove continued margin expansion,” said Ginni Rometty, IBM chairman, president and chief executive officer.