IBM today reported better-than-expected fourth-quarter earnings across the board led by software and hardware system sales.
The company reported fourth-quarter net income of $5.3 billion, or $4.18 a share, on revenue of $29 billion, up 7 percent from a year ago. Wall Street was looking for earnings of $4.08 a share on revenue of $28.3 billion for the fourth quarter.
In a statement, IBM CEO Sam Palmisano said the company has shifted to its "high-value businesses." That statement reflects how software is becoming an increasingly large chunk of IBM's revenue.
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