IBM sticks to 2015 forecast on back of solid results

IBM sticks to 2015 forecast on back of solid results

Summary: The company has reported solid fourth-quarter earnings, with chief executive Virginia Rometty insisting that IBM is on course to meet its targets for both 2012 and 2015

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IBM reported solid fourth-quarter earnings on Thursday, although revenue was lighter than expected. The company's 2012 and 2015 outlooks remain on track.

IBM reported fourth-quarter revenue of $29.5bn (£19.1bn), and earnings of $5.5bn, or $4.62 a share. Non-GAAP earnings, which exclude charges and other items, were $4.71 a share.

Wall Street analysts were looking for fourth-quarter earnings of $4.62 a share on revenue of $29.7bn. For the fourth quarter, revenue was up four percent. Chief executive Virginia Rometty, however, said that the company is on track toward delivering 2015 operating earnings of $20 a share.

For more on this ZDNet UK-selected story, see IBM: 2012 outlook solid, 2015 roadmap on track on ZDNet.com.


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Topic: Tech Industry

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