IBM reports 11% profit rise

IBM Corp, the world's largest technology services company, reported an 11 per cent increase in fourth quarter profit, beating estimates and underscoring signs of confidence that economic worries had crimped tech spending.

IBM said today fourth-quarter profit, excluding items, was $4.71 per share above average expectations of $4.62 according to Thomson Reuters I/B/E/S.

The company, a tech bellwether because of its global reach and scale, brought in revenue of $29.5 billion, up from $29.0 billion in the same period last year and just below average estimates of $29.7 billion.

It expects to deliver full-year 2012 GAAP earnings per share of at least $14.16 and operating (non-GAAP) earnings per share of at least $14.85.

Reuters 

• Email Us
• |