IBM Corp., the world’s biggest computer-services provider, forecast profit that exceeded analyst estimates as the company shifts to data analysis and cloud computing.
Earnings in 2013 will be at least $16.70 a share, Armonk, N.Y.-based IBM said. That compares with the $16.64 average estimate of analysts tracked by Bloomberg. The company’s profit for the fourth quarter, excluding items such as amortization and pension costs, rose to $6.1 billion, or $5.39 a share. In Chief Executive Officer Ginni Rometty’s first year of leadership, the company has continued a shift to more profitable businesses such as software for data analysis and away from hardware. The company is aiming for $20 in earnings per share by 2015.
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.