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8. International Business Machines
Fortune rank: 8
2008 profit: $12.33 Billion
IBM's emphasis of software, services, and open networks over PCs and hard drives paid off: Profit margins rose for the fifth consecutive year, reaching 44.1% in 2008, the highest in more than a decade.

Big Blue's profits reached $12.3 billion as overseas growth continued in Europe. Projects included a technology system for Norway's largest food supplier that traces meat through the supply chain to the grocery store shelf.

NEXT: Procter & Gamble
Last updated April 20 2009: 11:09 AM ET
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