IBM Q4 Net Income Rises 9 Percent

IBM said Tuesday that net income for the fourth quarter ended Dec. 31 rose 9 percent to $5.3 billion year-over-year, helped by strong performance in growth markets as well as software sales. Revenues for the quarter were $29 billion, a 7 percent increase.

Full-year net income grew 10 percent to $14.8 billion, while full-year revenues jumped 4 percent to $99.9 billion.

"We completed an outstanding year, with record profit and free cash flow, and exceeded the high end of our 2010 earnings per share roadmap objective," said IBM CEO Samuel J. Palmisano in a statement. "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 $60 billion and our acquisition of 116 companies have helped us to nearly triple our EPS and return more than $100 billion to shareholders."

IBM executives are planning to discuss the results further during a conference call Tuesday.

(More to follow)

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is Chris_Kanaracus@idg.com

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