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Schaeffer's Street Stories: IBM Corp. Soars on Positive 2009 Earnings Outlook

^{Published on 2009-01-21 09:52:43, Last Modified on 2009-01-21 09:53:06 - Market Wire}
 

CINCINNATI--([ BUSINESS WIRE ])--IBM Corp. (NYSE: IBM) surprised the Street with some positive earnings results late on Tuesday, when it posted a 12% increase in fourth-quarter profit and gave an upbeat outlook for 2009. For the fourth quarter, IBM reported net income of $4.42 billion, or $3.28 per share, compared with its year-ago profit of $3.95 billion, or $2.80 per share. Revenue fell 6.4% to $27 billion, from $28.87 billion a year before, partly due to the dollar's strength. IBM said that, at constant currency rates, revenue would have declined 1%.

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