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.