IBM saw strong gains during the third quarter, with revenue increasing at a modest pace.  During its earnings call this afternoon, IBM reported quarterly revenue of $24.3 billion, which is a 3% increase, and slightly ahead of analyst projections of $24.1 billion.

IBM also saw a 12% increase in net profit, to $3.6 billion, earning $2.82 per share.  That puts the computer company ahead of the consensus estimate of $2.75 per share, and a big jump from last year’s earnings per share of $2.40.

These are encouraging numbers, demonstrating a regained consumer interest in computer technology.  In a statement, Samuel Palmisano noted IBM’s growth in hardware, software and services, remaining optimistic for the company’s yearly performance, which is expected to be “at last $11.40” a share.  That’s head of Wall Street forecasts at $11.25 per share.

We’ve covered much of IBM’s recent industry activity, which has included a number of product releases and acquisitions during recent months.  This has helped IBM to perform ahead of expectations for Q3, but the numbers for new signed contracts at $11 billion were still lower than analyst projections of $12 billion.

Perhaps this is contributing to investor dismay, as IBM’s shares fell more than 3% in after-hours trading, reaching $137.59 per share.  That’s a $5.24 drop, while IBM shares rose during regular hours leading up to the earnings call.

But as we mentioned, the numbers are encouraging for the company and the industry overall.  This is evident with how much the cloud industry is taking hold, with several larger trends making their way back to consumers.  Just last week Intel showed a strong performance as well, as the company saw a rise in shares.