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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: Judith Feder who wrote (4469)	1/21/1999 5:09:00 PM
From: wiley murray	Respond to of 8218

IBM Posts 12 Percent Rise in Profit By DAVID E. KALISH AP Business Writer NEW YORK (AP) -- International Business Machines Corp. reported Thursday that quarterly profits rose 12 percent, edging Wall Street expectations, amid strong demand for its computer services and software products. IBM said it managed the profit despite weakness from the economic slump in Asia and parts of Latin America and sagging computer-chip prices. The company also overcame a decline in revenue from computers, IBM's biggest business, which slipped in part due to price reductions on new mainframe machines and slower sales of other business computers. IBM said it earned $2.35 billion, or $2.47 a share, in the three months ended Dec. 31. That was up from a profit of $2.09 billion, or $2.11 a diluted share, in the year-ago quarter. Revenues rose 6 percent to $25.13 billion from $23.72 billion. The report, for the fourth quarter, beat the $2.45 per share forecast by analysts surveyed by First Call Corp. The results were released after the close of financial markets.