Due to a reporting error, the first take of the story "IBM Q1 profit jumps 16 percent," posted Monday, misstated IBM's services revenue for the quarter. The story has been corrected on the wire and the fifth paragraph now reads as below. The error did not appear in the update.
"In an indication more customers are embarking on large-scale projects as the global recession eases, IBM also said it had signed 13 services contracts greater than $100 million in value. Total services revenues rose 4 percent to $13.7 billion."