IBM Q4 net income rises 9 per cent to $4.81 billion
20 Jan 2010
Global technology giant International Business Machines (IBM) today reported a nine per cent jump in its fourth quarter 2009 net income at $4.81 billion, against $4.42 billion in the same quarter of the previous year.
IBM announced fourth-quarter 2009 diluted earnings of $3.59 per share compared with diluted earnings of $3.27 per share in the fourth quarter of 2008, an increase of 10 per cent.
The company reported total revenue of $27.23 billion compared with $27 billion in the same quarter of the previous financial year.
IBM's total revenue rose to $27.23 billion in the fourth quarter ended 31 December 2009, from $27 billion in the same quarter last fiscal, IBM said in a statement.
IBM attributed the gains to cost cutting measures and has raised its outlook for 2010. IBM said its total expense decreased 5.0 per cent to $6.8 billion compared with the year-ago period.
IBM said it expects an earning of $11 per share for the full year 2010, up from earlier projections between $10 and $11 per share.