ARMONK, N.Y. (AP) — IBM says its fourth-quarter earnings grew 6 percent even as revenue was largely flat.
IBM Corp. said Tuesday that it earned $5.83 billion, or $5.13 per share, in the October-December period. That's up from $5.49 billion, or $4.62 per share, in the same period a year earlier.
The results include special items related to acquisitions and a charge IBM took to account for a U.K. court decision that will increase its costs for paying pensions to some of its retired employees.
Excluding these items, adjusted earnings were $5.39 per share in the latest quarter, above estimates of $5.25 per share.
Revenue slid less than 1 percent to $29.3 billion from $29.49 billion.
Analysts polled by FactSet had expected revenue of $29.12 billion.