IBM raises outlook on solid third quarter

Big Blue shows strength in businesses ranging from services to mainframes to analytics as earnings hit $2.82 a share on revenue of $24.3 billion.

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IBM upped its 2010 earnings outlook after delivering a strong third quarter. The company showed strength in businesses ranging from services to mainframes to analytics.

The company reported net income of $3.6 billion, or $2.82 a share, on revenue of $24.3 billion, up 3 percent from a year ago (statement). Wall Street was expecting earnings of $2.75 a share on revenue of $24.13 billion.

For 2010, IBM projected earnings of "at least $11.40." That's a dime better than current Wall Street estimates.

Read more of "IBM ups 2010 outlook; New mainframes spur hardware sales" at ZDNet's Between the Lines.

About the author

    Larry Dignan is editor in chief of ZDNet and editorial director of CNET's TechRepublic. He has covered the technology and financial-services industries since 1995.

     

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