IBM beats fourth-quarter estimates

IBM on Tuesday beat Wall Street estimates for the fourth quarter, reporting income of $4.8bn, or $3.59 per share — a 10 percent jump from the year-ago quarter.

Revenue for the quarter was $27.2bn (£16.6bn), down slightly when adjusted for currency.

Analysts had been expecting earnings of $3.47 per share on sales of $26.98bn.

For the fiscal year, the company reported net income of $13.4bn, or $13.01 per share, a 13 percent gain over the previous year. Sales for the year were $95.8bn, an eight percent drop from the previous year. Looking ahead to 2010, the company said it expects earnings per share of "at least $11".

For more on this story, see IBM beats for Q4; 'confident' about 2010 on ZDNet.com.