International Business Machines Corp. (NYSE: IBM) reported today an 11 percent rise in its fourth quarter profits.

The technology company said on Thursday that its fiscal fourth-quarter profit rose to $3.54 billion, or $2.31 a share. The profits come on revenues of $26.3 billion, a 7.5 percent increase over the same period one year ago.

Analysts polled on a Thomson Financial Poll forecasted earnings of $2.19 a share on $25.7 billion in revenue

Shares of IBM closed nearly flat today, rising .01 percent, or $0.01 to $99.46 on the New York Stock Exchange.