Computer services company Electronic Data Systems (EDS) said last night that its first-quarter earnings rose 19 per cent, matching average Wall Street expectations, as the global economic slowdown prompted companies to cut costs by streamlining their computer systems. The company employs 400 people in Dublin.

EDS said total first-quarter revenues rose 9 per cent to $5 billion (€5.6 billion) from $4.6 billion a year earlier. The increase was 17 per cent when adjusted to exclude the effects of exchange rates, acquisitions, divestitures and business with its biggest single customer, General Motors.