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IBM quarterly profit up 12 percent, to 3.04 billion dollars
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    • ARMONK, New York (AFP) Jan 18, 2005
     Computer giant IBM said Tuesday its fourth-quarter profit rose 12.2 percent from a year ago to 2.7 billion dollars, topping most Wall Street forecasts.

    The earnings amounted 1.81 dollars per share, ahead of the median forecast by analysts surveyed by First Call/Thomson Financial.

    Revenues for the October-December period grew 6.8 percent to 27.67 billion dollars, IBM said in a statement.

    For all of 2004, the world's biggest integrated computer and technology services company said its profit rose 11.2 percent to 8.43 billion dollars and revenues increased 8.3 percent to 96.50 billion.

    "IBM delivered a powerful fourth quarter, reflecting the strength of our integrated business model," said Samuel Palmisano, IBM chairman and chief executive officer.

    "It was IBM's strongest fourth quarter ever, with earnings exceeding three billion dollars for the first time. Our balance sheet remains strong with superior cash flow, and we took share in key markets ... The strategic actions that IBM took last year have increased our focus on delivering high value to enterprises."




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