IBM has reported a 26% quarterly earnings jump to $2.32 billion, or $1.65 per share, exceeding the forecast of $1.45 per share. Sales also saw a two-digit increase, rising 11.0% to $24.5 billion, again significantly greater than consensus predictions.

Technology services revenue was $9.67 billion, up 17.2 percent from a year ago, although there has been a small decrease year on year in new contract signings. All business units demonstrated increased profitability.

IBM's global reach and services business make it one of the US bellwethers to benefit from a weaker dollar in many territories as deals done in other currencies, such as sterling and the euro, can double their money. IBM acknowledged this by saying sales would have risen just four percent without the benefit of the currency conversion.

"IBM is a different company today, with a number of unique advantages: our global reach and scale, our strength in profitable growth segments, strong recurring revenue and profit streams, products and services that create real value for clients, and the discipline and financial strength and flexibility that enables us to adjust our business model as conditions require," said CEO Sam Palmisano.

IBM CFO Mark Loughridge added that companies worldwide are prioritising IT projects based on efficiency and cost savings, a potential boon to services and outsourcing providers.