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IBM
SAN FRANCISCO (MarketWatch) - IBM Corp. on Tuesday reported a 9% increase in its fourth-quarter profit as the technology industry titan saw growth in its services and consulting business, and also benefited from cost reductions.
IBM /quotes/comstock/13*!ibm/quotes/nls/ibm (IBM 132.84, -1.29, -0.96%) said it earned $4.8 billion, or $3.59 a share, compared with earnings of $4.4 billion, or $3.27 a share during the fourth-quarter of 2008. Revenue rose slightly to $27.23 billion from $27 billion in the year-ago period
IBM's results topped the estimates of analysts surveyed by Thomson Reuters, who had forecast IBM to earn $3.47 a share on sales of $26.96 billion.
Among its main business areas, IBM said total global services revenue rose 2% to a total of $14.7 billion. IBM also said it reported new services contract signings of $18.8 billion, a 9% increase from the fourth quarter of 2008.
IBM said that for its 2010 fiscal year, it expects to earn $11 a share. Analysts had been expecting $10.88 per share for the year, on average.
SAN FRANCISCO (MarketWatch) - IBM Corp. on Tuesday reported a 9% increase in its fourth-quarter profit as the technology industry titan saw growth in its services and consulting business, and also benefited from cost reductions.
IBM /quotes/comstock/13*!ibm/quotes/nls/ibm (IBM 132.84, -1.29, -0.96%) said it earned $4.8 billion, or $3.59 a share, compared with earnings of $4.4 billion, or $3.27 a share during the fourth-quarter of 2008. Revenue rose slightly to $27.23 billion from $27 billion in the year-ago period
IBM's results topped the estimates of analysts surveyed by Thomson Reuters, who had forecast IBM to earn $3.47 a share on sales of $26.96 billion.
Among its main business areas, IBM said total global services revenue rose 2% to a total of $14.7 billion. IBM also said it reported new services contract signings of $18.8 billion, a 9% increase from the fourth quarter of 2008.
IBM said that for its 2010 fiscal year, it expects to earn $11 a share. Analysts had been expecting $10.88 per share for the year, on average.