Wednesday, January 19, 2005
IBM delivered earnings that surpassed Wall Street expectations. Fourth-quarter profit rose 12.2 percent from a year ago to 2.7 billion dollars, the company reported.
Revenues for the October-December period grew 6.8 percent to 27.67 billion dollars. For the year of 2004, profit rose 11.2 percent to 8.43 billion dollars and revenues increased 8.3 percent to 96.50 billion.
IBM said sales increase by 7 percent in the fourth quarter compared to the same quarter last year but sales would have increased just 3 percent if not for favorable currency exchange rates. IBM and other multinational corporations have benefited from the dollar's weakness since it inflates the value of sales made in other countries. Nearly 60 percent of IBM's total sales in the fourth quarter came from outside the Americas.
By: DocMemory
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