International Business Machines Corp. Q4 Profit Increases, Inline With Estimates

(RTTNews) - International Business Machines Corp. (IBM) reported a profit for its fourth quarter that increased from the same period last year in line with the Street estimates.

The company's bottom line totaled $2.71 billion, or $2.96 per share. This compares with $2.33 billion, or $2.57 per share, in last year's fourth quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $3.60 per share for the period.

Analysts on average had expected the company to earn $3.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.1% to $16.69 billion from $16.70 billion last year.

International Business Machines Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $2.71 Bln. vs. $2.33 Bln. last year. -EPS (Q4): $2.96 vs. $2.57 last year. -Analyst Estimate: $3.60 -Revenue (Q4): $16.69 Bln vs. $16.70 Bln last year.