IBM: Recession? What Recession? - AllThingsD
Tue, Jan 20th, 2009
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Finally, some good news …
After market close Tuesday, IBM (IBM) reported a fiscal fourth-quarter profit that rose 12 percent year-over-year and said it expects its earnings for 2009 to surpass current estimates. IBM believes it will earn at least $9.20 a share in 2009, while analysts have been betting on $8.75.
In a statement - which included no mention of rumored layoffs - chief executive Samuel Palmisano said IBM "performed well in an extremely difficult economic environment." And indeed it did, thanks in large part to its software business whose revenues rose 3 percent during the quarter.
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