The leading computer & consulting-services provider, IBM Corp., raised its profit forecast as it released strong quarterly earnings.

IBM raised its full-year profit forecast from previously estimated at-least $13 per share to $13.15 per share.

Net income during the first quarter jumped 10 per cent from $2.6 billion, or $1.97 per share, in the year ago period to $2.86 billion or $2.31 per share this year.

Exclusive of acquisition-related charges, net income was $2.41 per share, up from average analyst estimate of $2.29.

Revenue jumped 8 per cent to settle at $24.6 billion during the quarter. The figure is higher than analysts’ projection of $24.02 billion.

The company's revenue from China jumped 33 per cent, while in Russia it jumped higher, at 53 per cent. Europe and Japan markets were lagging.

Bob Djurdjevic, an analyst with Annex Research, said "When one part fails, another part more than makes up for it.”

IBM benefited from strong demand for the newest version of its mainframe computer that was rolled out in the third quarter of last year.