Expects earnings-per-share of at least $12.56 for full year 2011
IBM has reported revenue of $29bn for the fourth quarter of 2010, up 7.4% compared to $27bn for the same period last year.
Total gross profit margin grew marginally to 49%, from 48.3% in the fourth quarter of previous year.
For the quarter ended December 31, 2010, net income increased 9.2% to $5.3bn, compared to $4.8bn for the same period a year ago.
The diluted earnings increased 16.4% to $4.18 per share from $3.59 per share.
Geographically, the America’s revenue which is the IBM’s biggest market increased 9% to $12.2bn and the Asia-Pacific revenues increased 14% to $6.6bn while revenue from the Europe/Middle East/Africa decreased 2% to $9.5bn.
Total global services revenue increased 2%, global technology services segment revenue increased 1% to $10.2bn, and global business services segment revenue increased 4% to $4.8bn compared to same period a year ago.
The revenue from the software segment rose 7% to $7bn and revenue from IBM’s key middleware products, which include WebSphere, information management, Tivoli, Lotus and rational products were $4.7bn, an increase of 13% compared to same period last year.
The systems and technology segment revenue increased 21% to $6.3bn compared to same period last year, but increased sequentially.
For the full year ended December 31, 2010, the company’s revenue was up 4% to $99.9bn compared to $95.8bn last year.
Net income increased 10% to $14.8bn from $13.4bn; dilute earnings increased 15% to $11.52bn per share from $10.01 per share last year.
The company expects earnings-per-share of at least $12.56 for full year 2011.
IBM chairman, president and chief executive officer Samuel Palmisano said they completed an outstanding year, with record profit and free cash flow, and exceeded the high end of their 2010 earnings per share roadmap objective.
"We also capped a decade in which our shift to high-value businesses, our global integration of IBM, our investment in research and development of almost $60bn and our acquisition of 116 companies have helped us to nearly triple our EPS and return more than $100bn to shareholders," Palmisano said.