Reuters: Hot Stocks: CORRECTED-UPDATE 1-IBM fourth quarter earnings, revenue beat Street

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CORRECTED-UPDATE 1-IBM fourth quarter earnings, revenue beat Street Jan 22nd 2013, 21:51 Tue Jan 22, 2013 4:51pm EST (Corrects period of growth for BRIC countries to "2012" from "the quarter") * Q4 revenue of $29.3 bln vs Street view $29.05 bln * Q4 EPS was $5.39 vs $5.25, sees 2013 EPS of at least $16.70 * Shares up 3 percent Jan 22 (Reuters) - IBM, the world's largest technology services company, reported fourth-quarter earnings and revenue that beat estimates on the back of growth in emerging markets. International Business Machines Corp said on Tuesday its quarterly net income rose 10 percent to $6.1 billion, or $5.39 a share from $4.71 a year earlier. Revenue dropped 1 percent to $29.3 billion. Analysts had expected the Armonk, New York-based company to report net income of $5.95 billion, or $5.25 a share, on revenue of $29.05 billion, according to Thomson Reuters I/B/E/S. Revenue in Brazil, India, Russia and China increased by 7 percent in 2012, or 12 percent adjusted for currency fluctuations. IBM estimated earnings of at least $16.70 a share for the full year, above analysts' consensus forecast of $16.57. Some analysts said IBM's results were a sign that the tech spending environment was improving. "It is better than what people had feared," said Brian Marshall, an analyst at ISI Group. "Virtually every segment did a little bit better than people expected. It supports the fact that things are getting better out there at least from a tech industry standpoint." (Reporting by Nicola Leske; Editing by Richard Chang) Link this Share this Digg this Email Reprints

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