IBM Corp, the world's largest technology services company, reported an 11 percent increase in fourth quarter profit, beating estimates and underscoring signs of confidence that economic worries had crimped tech spending.
IBM said on Thursday fourth-quarter that profit, excluding items, was $4.71 per share above average expectations of $4.62 according to Thomson Reuters I/B/E/S.
International Business Machines, a tech bellwether because of its global reach and scale, brought in revenue of $29.5 billion, up from $29.0 billion in the same period last year and just below average estimates of $29.7 billion.
IBM expects to deliver full-year 2012 GAAP earnings per share of at least $14.16 and operating (non-GAAP) earnings per share of at least $14.85.
(Reporting by Nicola Leske; editing by Andre Grenon)