Tuesday January 20, 2009
Navivest

IBM (IBM) after the close of the stock market today, announced Q4 and full year earnings results.

The company reported that for the full year of 2008, it had revenues of $103.6 billion, pre-tax profits of $16.7 billion and earnings per share of $8.93. All are new records for the company.

For the Q4 2008 period, the company recorded revenue of $27 billion. This was down 6% over the same period a year ago with currency impact factored in and down 1% when factoring out currency impact. Net income was $4.4 billion, a rise of 12% from the year ago period and EPS for the period was $3.28, a 12% change from Q4 2007.

Analysts were looking for revenue of $104.76 billion and an EPS of $8.69 for full year 2008 and for the fourth quarter, estimates were for revenue of $28.15 billion and an EPS of $3.03.

For full year 2009, the company expects to earn at least $9.20 per share.

Although revenue was shy of consensus estimates for the full year and Q4 periods, the company beat on the bottom line for both periods.

Also, the guidance numbers for 2009 are positive, so hopefully, IBM helps put a floor under stocks tomorrow after today’s 4.01% drop in the Dow Jones Industrial Average.

Tags: IBM  Earnings  Dow Jones