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.
Get the latest technology news and analysis, blogs and reviews
delivered directly to your inbox with ZDNet UK's