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IBM profit beats Street on higher software revenue

Tuesday, 21 Jan 2014 | 4:13 PM ET

Jan 21 (Reuters) - International Business Machines Corp , the world's largest technology services company, reported a better-than-expected quarterly profit, helped by higher software revenue.

Net profit rose 6 percent to $6.19 billion in the fourth quarter. On an adjusted basis, it earned $6.13 a share, beating analysts' average estimate of $5.99 per share, according to Thomson Reuters I/B/E/S.

Total revenue fell 5.5 percent to $27.7 billion, below analysts' average estimate of $28.25 billion.

(Reporting by Supantha Mukherjee and Soham Chatterjee; Editing by Savio D'Souza)

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