From CNN this morning we have this:

After dropping nearly 8 percent in 2005, IBM’s mainframe revenue is up 10 percent this year. That includes a 25 percent gain in the most recent quarter.

Mainframes were IBM’s fastest-growing hardware segment after the microchip division, which is enjoying a nice ride making microprocessors for the top three video game consoles.

IBM does not release precise figures, but analysts estimate mainframe revenue at roughly $2.3 billion in the first nine months of 2006. While that is a small chunk of IBM’s overall sales of $65 billion so far this year, mainframe revenue is especially precious because the machines drive huge software and maintenance deals, making them IBM’s most profitable line of hardware.

Uh oh, does this mean we should expect the trend to take over financial technology? I really hope not… What does the crystal ball say?

Of course, the huge third-quarter boost is unlikely to be sustained. IBM is benefiting from having released two new mainframes in the past year, and sales eventually should taper until an upgrade comes, at least a year from now.

Such ups and downs are typical: Unisys Corp., a much smaller vendor, has seen mainframe sales drop this year, but spokesman Brian Daly said the numbers strengthened in the third quarter with the release of a new model.

Oh boy that was a close one wasn’t it?