International Business Machines Corp. Q4 Profit Decreases, But Beats Estimates

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(RTTNews) - International Business Machines Corp. (IBM) revealed earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $2.915 billion, or $3.09 per share. This compares with $3.288 billion, or $3.55 per share, last year.

Excluding items, International Business Machines Corp. reported adjusted earnings of $3.690 billion or $3.92 per share for the period.

Analysts on average had expected the company to earn $3.78 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.0% to $17.553 billion from $17.381 billion last year.

International Business Machines Corp. earnings at a glance (GAAP) :

-Earnings: $2.915 Bln. vs. $3.288 Bln. last year. -EPS: $3.09 vs. $3.55 last year. -Revenue: $17.553 Bln vs. $17.381 Bln last year.