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10-18-2010, 06:12 PM #1
IBM profit jumps 12 percent
IBM profit jumps 12 percent
By The Associated Press
Published: 4:53 PM - 10/18/10
Last updated: 4:57 PM - 10/18/10
IBM's net income rose 12 percent and the technology company raised its 2010 profit forecast slightly as it wrings more out of its services and software divisions and gets a lift from a new mainframe computer.
IBM Corp. earned $3.59 billion, or $2.82 per share, versus $3.21 billion, or $2.40 per share, a year ago. Analysts expected $2.75 per share.
Revenue rose 3 percent to $24.27 billion. Analysts expected $24.13 billion.
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