4:13pm 01/17/02 IBM beats earnings expectation (IBM) By Mike Tarsala
IBM (IBM) beat earnings expections for the fourth quarter with net income of $2.3 billion, or $1.33 a share. The company earned $1.48 a share on sales of $25.6 billion in the same period last year. Analysts had expected IBM to earn $1.32 a share, according to a survey of analysts by Thomson Financial/First Call. Sales came in at $22.8 billion, slightly lower than the $23.8 billion analysts had expected, according to Thomson Financial/First Call. Shares of IBM rose $2.65 to close at $119.90 in regular trading on the New York Stock Exchange.
IBM (IBM) beat earnings expections for the fourth quarter with net income of $2.3 billion, or $1.33 a share. The company earned $1.48 a share on sales of $25.6 billion in the same period last year. Analysts had expected IBM to earn $1.32 a share, according to a survey of analysts by Thomson Financial/First Call. Sales came in at $22.8 billion, slightly lower than the $23.8 billion analysts had expected, according to Thomson Financial/First Call. Shares of IBM rose $2.65 to close at $119.90 in regular trading on the New York Stock Exchange.
