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IBM Q4 profit tops Street

Christian Fernsby ▼ | January 22, 2020
IBM reported a profit for the fourth quarter that trumped Wall Street estimates, while revenues also surpassed expectations. Moving ahead, the company issued a strong outlook for the full year 2020.
IBM   IBM reported fourth quarter profit of $3.67 billion
IBM reported fourth quarter profit of $3.67 billion or $4.11 per share, up from last year's profit of $1.95 billion or $2.15 per share.

Topics: IBM

Excluding one-time items, earnings from continuing operations were $4.71 per share. Analysts had a consensus earnings estimate of $4.68 per share for the quarter.

IBM's fourth-quarter revenues inched up 0.1% to $21.78 billion from $21.76 billion last year. Analysts polled by Thomson Reuters expected revenues of $21.64 billion for the quarter.

IBM is divesting off its low-margin and unprofitable hardware businesses to improve profitability. The company is now striving hard to make IBM a company that provides cloud computing and data analytics.