January 22, 2013 / 9:40 PM / 5 years ago

IBM fourth quarter earnings and revenue beat Street

* Q4 revenue of $29.3 bln vs Street view $29.05 bln

* Q4 EPS was $5.39 vs $5.25, sees 2013 EPS of at least $16.70

* Shares up 3 percent

(Adds outlook, analyst comment)

Jan 22 (Reuters) - IBM (IBM.N), the world’s largest technology services company, reported fourth-quarter earnings and revenue that beat estimates on the back of growth in emerging markets.

International Business Machines Corp said on Tuesday its quarterly net income rose 10 percent to $6.1 billion, or $5.39 a share from $4.71 a year earlier. Revenue dropped 1 percent to $29.3 billion.

Analysts had expected the Armonk, New York-based company to report net income of $5.95 billion, or $5.25 a share, on revenue of $29.05 billion, according to Thomson Reuters I/B/E/S.

Revenue in Brazil, India, Russia and China increased by 7 percent in the quarter, or 12 percent adjusted for currency fluctuations.

IBM estimated earnings of at least $16.70 a share for the full year, above analysts’ consensus forecast of $16.57.

Some analysts said IBM’s results were a sign that the tech spending environment was improving.

“It is better than what people had feared,” said Brian Marshall, an analyst at ISI Group.

“Virtually every segment did a little bit better than people expected. It supports the fact that things are getting better out there at least from a tech industry standpoint.”

(Reporting by Nicola Leske; Editing by Richard Chang)

((Nicola.Leske@thomsonreuters.com)(+1 646 223 6134)(Reuters Messaging: nicola.leske.thomsonreuters.com@reuters.net)) Keywords: IBM RESULTS/

C Reuters 2012. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing, or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below