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January 23, 2013

IBM’s Q4 revenue drops despite 6% increase in net income

IBM's net income increased 6% to $5.8bn.

By CBR Staff Writer

IBM has reported a 0.6% decrease in revenue to $29.3bn for the fourth quarter of 2012. This compares to $29.4bn during the same period in 2011.

The company’s net income increased 6% to $5.8bn, or $5.13 diluted earnings per share for the quarter. An increase from $5.5bn, or $4.62 diluted earnings per share in the same quarter in 2011.

Revenues in the Americas increased by 1% to $12.5bn compared to the 2011 period and a decline of 5% to $9.1bn was seen in revenues from Europe/Middle East/Africa.

The company reported a 4% increase in Asia-Pacific revenues of $7bn while OEM revenues decreased 5% to $679m.

Revenue from the software segment increased 3% to $7.9bn for the quarter while hardware revenue fell 1% to $5.8bn.

Revenues in the company’s global technology services segment declined 2% to $10.3bn and global business services segment revenues were down 3% to $4.7bn.

IBM chairman, president and chief executive officer Ginni Rometty said the performance in the fourth quarter and for the full year was driven by markets, analytics, cloud computing and smarter planet solutions.

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"Looking ahead, we continue to invest to deliver innovations for the enterprise in key areas such as big data, mobile solutions, social business and security, while expanding into new markets and reaching new clients," Rometty said.

"We are well on track toward our long-term roadmap for operating EPS of at least $20 in 2015."

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