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.
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