ARMONK, N.Y. (AP) — ARMONK, N.Y. (AP) — International Business Machines Corp. (IBM) on Wednesday reported fourth-quarter net income of $5.6 billion.
On a per-share basis, the Armonk, New York-based company said it had net income of $5.88. Earnings, adjusted for one-time gains and costs, were $4.52 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.33 per share.
The technology and consulting company posted revenue of $19.69 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $19.2 billion.
For the year, the company reported profit of $10.59 billion, or $11.17 per share. Revenue was reported as $67.54 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
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