- FCC to probe pricing policies of cable, Verizon
- Fujitsu buying Siemens' stake in 50-50 venture
- Panasonic, Sanyo shares soar amid takeover reports
- Vigilance deters Halloween eve arsons in Mich.
- Washington Post profit falls on valuation hit
- NYC residents: Use your mouse to track rats online
- Court limits ‘business method’ patents
- Cell phone shipments fall 0.4 percent in 3Q
- Five Economic Challenges Ahead For Obama
- Demise of Australia's Allco a Sign of More to Come
- The New Investment World: Together and Separate
- JPMorgan to Close Prop Desk, Lay Off Traders: Source
- Australian Government Faces Up to Grim Reality
- Stocks Rise as Asia Awaits US Election Outcome
- Bogle: Market Fundamentals Have 'Improved Radically'
- Dell Taking Further Steps To Cut Staff and Costs
- Marvel Posts Marvel-ous Profits, Sees Modest 2009
Text Size 
IBM reported on Wednesday preliminary third-quarter earnings that beat analysts' expectations, and it affirmed its full-year profit outlook, sending shares up 4 percent.
 |
Aaron Brown: Photography |
International Business Machines said third-quarter net income rose 20 percent to $2.8 billion, while earnings per share from continuing operations rose 22 percent to $2.05. Revenue rose 5 percent to $25.3 billion, including 3 points from currency benefits, IBM said.
Analysts were looking for earnings of $2.01 per share on revenue of $26.5 billion, according to Reuters Estimates.
"Our results demonstrate that the combination of a steady base of recurring revenue and profits, investments for growth in emerging markets, a range of products and services that deliver value to clients, and a strong and flexible financial foundation give IBM a competitive edge in good times and tough times," CEO Samuel Palmisano said in a statement.
"We remain confident in our full-year outlook," he said.
IBM affirmed its forecast that 2008 earnings per share would be at least $8.75, representing year-on-year growth of 22 percent.
Shares of IBM [IBM
Loading...
()
] rose 3.8 percent to $94.0 in after-hours trading, compared to their close on the New York Stock Exchange of $90.55.
Print
Email
Del.icio.us
Digg It
Data is a real-time snapshot *Data is delayed at least 15 minutes