IBM earnings rise 6% to $5.8 billion

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IBM earnings rise 6% to $5.8 billion
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- International Business Machines Corp. on Tuesday reported a fourth-quarter profit of $5.8 billion, or $5.13 a share, on revenue of $29.3 billion. During the same period a year ago, IBM earned $5.5 billion, or $4.62 a share, on $29.48 billion in sales. Excluding one-time times, IBM would have earned $6.1 billion, or $5.39 a share. Analysts surveyed by FactSet had forecast IBM to earn $5.25 a share on $29.12 billion in sales. For its 2013 fiscal year, IBM said its expects to earn at least $16.70 a share excluding one-time items. IBM shares rose 3% in after-hours trading following the release of the results.