IBM on Tuesday reported better-than-expected fourth quarter earnings across the board led by software and hardware system sales.
IBM's earnings report a shift to "high-value businesses", said chief executive Sam Palmisano. Photo credit: IBM
The company reported fourth quarter net income of $5.3bn (£3.3bn), or $4.18 a share, on revenue of $29bn, up 7 percent from a year ago. Wall Street was looking for earnings of $4.08 a share on revenue of $28.3bn for the fourth quarter.
In a statement, IBM chief executive Sam Palmisano said the company has shifted to its "high-value businesses". That statement reflects how software is becoming an increasingly large chunk of IBM's revenue. IBM also reiterated that it will have operating earnings of at least $20 a share in 2015.
For more on this ZDNet UK-selected story, see IBM delivers big earnings in fourth quarter, upbeat about 2011 on ZDNet.com.
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