IBM's Q4, Guidance Mostly Beat Expectations On Software Growth (IBM)

IBM’s (IBM) push into software is proving profitable: The company today reported Q4 revenue of $27.0 billion for $3.28 EPS, versus the Street’s consensus of $28.2 billion for $3.03 EPS.

The rise in earnings comes primarily from growth in IBM’s sales of “middleware” connectivity software, up 4% y/y. Other divisions including services were mostly down.

No Q1 guidance in the release, but IBM expects profit in 2009 of $9.20 a share, ahead of the Street’s $8.75 consensus.

IBM shares are up 4.6% after hours.

See Also: IBM To Enterprise: Ditch Windows For Our “Microsoft-Free” Terminals

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.