International Business Machines: The Armonk, N.Y., computer...

International Business Machines: The Armonk, N.Y., computer giant said first-quarter earnings rose 1.8% to $950 million, before the impact of a $315-million gain from a one-time accounting change. Revenue increased 5.6% to $12.73 billion. “Worldwide demand across our product line continues to be good,” the company said. “Our results improved despite a short-term chip shortage that affected some large system shipments.”