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IBM: 4Q Earnings Snapshot

ARMONK, N.Y. (AP) _ International Business Machines Corp. (IBM) on Tuesday reported fourth-quarter net income of $3.67 billion.

The Armonk, New York-based company said it had net income of $4.11 per share. Earnings, adjusted for one-time gains and costs, were $4.71 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.69 per share.

The technology and consulting company posted revenue of $21.78 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $21.69 billion.

For the year, the company reported profit of $9.43 billion, or $10.56 per share. Revenue was reported as $77.15 billion.

IBM expects full-year earnings to be $13.35 per share.

IBM shares have climbed almost 4% since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 3%. In the final minutes of trading on Tuesday, shares hit $139.17, a climb of 12% in the last 12 months.


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