IBM reports 12-percent profit boost

SAN FRANCISCO - IBM posted a 12-percent increase in third-quarter profits Monday as revenue jumped in the company’s key growth markets of Brazil, Russia, India and China (BRIC).

The technology giant known as Big Blue said it earned $3.59 billion in the quarter, compared to $3.21 billion a year ago. Global revenue rose three percent to $24.27 billion.

Growth was especially strong in the so-called BRIC countries, where revenue rose 16 percent to represent 21 percent of the company’s total sales. Sales in Europe, the Middle East and Africa dropped six percent, while revenue jumped 14 percent in Asia and by three percent in the Americas.