IBM: Q4 Earnings Snapshot

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ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported fourth-quarter profit of $2.92 billion.

On a per-share basis, the Armonk, New York-based company said it had profit of $3.09. Earnings, adjusted for one-time gains and costs, came to $3.92 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.73 per share.

The technology and consulting company posted revenue of $17.55 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $17.56 billion.

For the year, the company reported profit of $6.02 billion, or $6.43 per share. Revenue was reported as $62.75 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBM at https://www.zacks.com/ap/IBM