IBM said it expects its profit to nearly double to over $20 a share by 2015, helped by the company's push into profitable technology services and software businesses.
International Business Machines Corp Chief Executive Sam Palmisano told an annual investor briefing on Wednesday that the company expects earnings per share excluding items of at least $20 for 2015.
IBM also reiterated its forecast for EPS of at least $11.20 for 2010.
The outlook was an update to IBM's long-term road map given in 2007, in which it targeted EPS of around $10-11 by 2010. The company reported EPS of $10.01 a share for 2009.
IBM shares were up 1.5 percent at $128.79.
(Reporting by Ritsuko Ando, editing by Gerald E. McCormick)