+44 (0)20 7930 4158POPULAR TOOLS
IBM profits up 5% to USD5.6bn in Q4
IBM beat analyst forecasts for Q4, with its profits up 5% year on year to hit USD5.6bn and sending shares in the San Francisco-based firm up 2% at the end of trading. Revenues grew 2% from USD29.02bn in 2010 to USD29.49bn in the three months ending December 31, below expectations as weak hardware sales ate into strong software sales. The firm says shifting currency value pulled down revenues by as much as USD300m in the quarter, likely alluding to stricken Eurozone economies and signs of weakness in key markets such as the US. Despite this, the firm is forecasting a strong outlook for the year ahead, with newly-appointed CEO Ginni Rometty telling backers that the firm is "well on track" to beat analyst expectations of USD14.77 per share by the end of 2012.
To access this content and our full archive of articles on 30,000+ companies, you are required to be a StrategyEye subscriber. We offer a range of subscription options. Complete the form to request one of our packages. |
|
