IBM issues strong 2008 profit outlook
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IBM  on Thursday forecast 2008 earnings well ahead of Wall Street expectations as strong growth abroad made up for weaker results in the United States, sending its shares up 5 percent.
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Computer server and software maker IBM said Monday its fourth-quarter earnings from continuing operations rose 24 percent from a year ago, beating Wall Street expectations by a wide margin.
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IBM reported a 6 percent increase in profit for its fiscal third quarter as a strong performance from its services business offset a slide in hardware revenue.
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IBM on Monday said fourth-quarter revenue, aided by exchange rates and sales outside the U.S., stood at $28.9 billion, an increase of 10 percent over the same period in 2006.
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International Business Machines Corp. topped fourth-quarter expectations by a healthy margin, with strong overseas sales and a weak dollar helping to generate a profit of &#36;3.04 billion.
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IBM announced strong second-quarter results today, with good news for both its Americas and services businesses, which previously had underperformed.
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International Business Machines  Corp. IBM.N on Tuesday posted a quarterly net profit that  beat Wall Street's recently raised target as solid year-end  product sales were buoyed by a weaker U.S. dollar.
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Blog: IBM sees healthy revenue from global services and software divisions as it seeks out higher-margin businesses.
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IBM  reported a better-than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 6 percent and spurring a broader tech rally.
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IBM , the world's largest technology services company, on Wednesday posted a higher quarterly profit as revenue rose 9 percent, helped by software-company acquisitions and growth in computer services.
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On the surface, IBM seems to be cruising. Its stock is trading near a six-year high, at almost $106, and its overall financial performance has been improving steadily for more than a year.
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Microsoft  is expected to  report a sharp rise in quarterly profit this week, boosted by  surging revenue as strong computer sales drive demand for its  Windows operating system and Office software.
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PC maker sees potential profit at the end of the tunnel, boosted by new sales strategy.
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IBM  on Thursday forecast  2008 earnings ahead of Wall Street expectations, sending its  shares up 5 percent.
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IBM on Monday said fourth-quarter revenue, aided by exchange rates and sales outside the U.S., stood at $28.9 billion, an increase of 10 percent over the same period in 2006.The figure, which topped predictions of $27.82 billion by analysts polled by Thomson First Call, was helped by the ongoing weakness in the dollar, IBM said.Samuel J. Palmisano, IBM&#39;s chairman, president and chief executive officer, said in a statement that the results were also helped by strong sales in Asia, Europe, and emerging markets.IBM said it earned $2.80 per share in the quarter, handily beating the analysts&#39; forecast of $2.60 per share. The results represent a 24 percent increase over the same period in 2006, when IBM earned $2.26 per share.Total revenue for 2007 was $98.6 billion, an 8 increase from 2006. Overall earnings for 2007 were $7.18 per share, a rise of 18 percent over 2006, according to IBM.The company also said it had more than $16 billion in cash on hand at the end of 2007.Shares of IBM shot up nearly 8 percent on the news in premarket trading Monday, to $105.36.IBM plans to provide a full earnings report during a webcast on Thursday.
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The companyâs strong quarterly results and optimistic outlook suggest that a weakening economy will not slow it down.
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Oracle Corp  posted a 35 percent rise in quarterly profit on higher-than-expected software sales and issued a strong outlook, easing concerns it may be hurt by the slowing U.S. economy and pushing its shares up 6.5 percent.