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.

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