IBM Q4 net income up 9 per cent at $4.81 b

 
Its total revenue during the reporting quarter rose to $27.23 billion from $27 billion in the same quarter last fiscal. The company said it expects an earning of $11 per share for the full year 2010, up from earlier projections between $10 and 11 per share.

IBM has boosted profitability by cost cutting moves as its total expense decreased 5 per cent to USD 6.8 billion compared with the year-ago period. The tech giant has registered robust growth in services and software segment, while revenues from hardware business declined.

Further, its total gross profit margin was 48.3 per cent in the fourth quarter of 2009, up from 47.9 per cent in the year-ago period on improvements from services segments and, Systems and Technology.

For the full year 2009, IBM posted a net income of $13.4 billion compared to $12.3 billion in 2008. Its revenue fell eight per cent to $95.8 billion in the year ended December 31, 2009.

“We are confident about 2010 and our ability to achieve the high end of our long-term roadmap,”  IBM Chairman President and Chief Executive Officer Samuel J Palmisano said.

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