International Business Machines Corp. Q4 Profit Increases, beats estimates

(RTTNews) - International Business Machines Corp. (IBM) revealed a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $3.29 billion, or $3.55 per share. This compares with $2.71 billion, or $2.96 per share, in last year's fourth quarter.

Excluding items, International Business Machines Corp. reported adjusted earnings of $3.59 billion or $3.87 per share for the period.

Analysts on average had expected the company to earn $3.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.1% to $17.38 billion from $16.69 billion last year.

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

-Earnings (Q4): $3.29 Bln. vs. $2.71 Bln. last year. -EPS (Q4): $3.55 vs. $2.96 last year. -Analyst Estimate: $3.78 -Revenue (Q4): $17.38 Bln vs. $16.69 Bln last year.