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.