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Reuters: IBM Reports Solid Quarter, Well Placed for 2001

Jan 17, 2001, 22:56 (2 Talkback[s])
(Other stories by Reuters)

"International Business Machines Corp., the world's largest computer maker, on Wednesday reported fourth-quarter profit rose 28 percent, slightly exceeding analyst expectations, and said it was better placed than its competitors to weather any economic downturn."

"The Armonk, N.Y.-based company reported fourth-quarter net income of $2.7 billion, or $1.48 per share, compared with net income of $2.1 billion, or $1.12 per share, a year earlier."

"Analysts on average had estimated earnings of $1.46 per share, according to First Call/Thomson Financial, which tracks such forecasts."

"'We saw improved performance across the board in our server business in the fourth quarter, especially for our Web servers and our new Z900 mainframes, which were designed specifically for e-business,' IBM Chief Financial Officer John Joyce said on a conference call."

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