IBM beats fourth-quarter estimates

IBM on Tuesday beat Wall Street's estimates for the fourth quarter, reporting income of $4.8 billion, or $3.59 per share, a 10 percent jump from the year-ago quarter. Revenue for the quarter was $27.2 billion, down slightly when adjusted for currency. (Statement)

Analysts had been expecting earnings of $3.47 per share on sales of $26.98 billion.

For the fiscal year, the company reported net income of $13.4 billion, or $13.01 per share, a 13 percent gain over the previous year. Sales for the year were $95.8 billion, an 8 percent drop from the previous year. Looking ahead, the company said it expects earnings per share of "at least $11."

Read more of "IBM beats for Q4; 'confident' about 2010" at ZDNet's Between the Lines.