New York: Beating street expectations, global software major International Business Machines Wednesday posted a 12% growth in income from operations at $4.4 billion for the fourth quarter in 2008.
The company had a $4 billion income from operations in the December quarter of FY’08, IBM said in a statement.
However, the total revenue declined 6% to $27 billion in the last quarter last year as against $28.9 billion in the year-ago period.
“In 2008, IBM performed well in an extremely difficult economic environment. Clearly our strategic transformation --migrating to the more profitable segments of the industry, investing in growth regions of the world, and driving productivity through global integration-- is continuing to pay dividends,” IBM chairman, president and chief executive officer Samuel J. Palmisano said.
IBM said it expects full-year 2009 earnings of at least $9.20 per share as against $8.93 per share in 2008.
For the full year ended December 2008, IBM’s income from continuing operations rose to $12.3 billion, an increase of 18% as compared with the year-ago period.
The firm had an income of $10.4 billion in the corresponding period a year ago.