IBM issues strong 2008 profit outlook
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IBM  on Thursday forecast 2008 earnings well ahead of Wall Street expectations as strong growth abroad made up for weaker results in the United States, sending its shares up 5 percent.
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International Business Machines Corp.  IBM.N on Monday posted a flat quarterly net profit, weighed  down by a legal settlement, but the world's largest computer  company sounded a confident outlook and its shares rose 2.3  percent after-hours.
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InfoWorld - IBM Corp. expects about $1 billion in revenue from India, as the company's hardware and services business in the local market soars.
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Strong overseas demand pushes IBM to a better-than-expected fourth quarter.
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IDC on Wednesday painted an optimistic outlook for Linux over the next few years, predicting that overall revenue for desktops, servers, and Linux-compatible packaged software will reach $35 billion by 2008.
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IBM reported a better-than-expected 24  percent rise in preliminary quarterly earnings on Monday on  strong sales in overseas markets, driving its shares up 6  percent and spurring a broader tech rally.
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Honeywell International Inc  said on Thursday it expects to report a 2008 profit 16 percent to 21 percent over estimated 2007 earnings, broadly above Wall Street estimates, helped by favorable macro trends in its aerospace and manufacturing businesses.
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Computer giant IBM said its fourth-quarter profit rose 12.2 percent from a year ago to 2.7 billion dollars, topping most Wall Street forecasts.
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Citing strong economic conditions, the manufacturer posted fourth-quarter earnings of $689 million, up from $585 million a year earlier.
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Diversified manufacturer United Technologies Corp  said on Wednesday quarterly profit rose 23 percent, boosted by strong demand from the aviation and commercial construction markets, and affirmed its 2008 outlook.
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IBM on Monday said fourth-quarter revenue, aided by exchange rates and sales outside the U.S., stood at $28.9 billion, an increase of 10 percent over the same period in 2006.The figure, which topped predictions of $27.82 billion by analysts polled by Thomson First Call, was helped by the ongoing weakness in the dollar, IBM said.Samuel J. Palmisano, IBM&#39;s chairman, president and chief executive officer, said in a statement that the results were also helped by strong sales in Asia, Europe, and emerging markets.IBM said it earned $2.80 per share in the quarter, handily beating the analysts&#39; forecast of $2.60 per share. The results represent a 24 percent increase over the same period in 2006, when IBM earned $2.26 per share.Total revenue for 2007 was $98.6 billion, an 8 increase from 2006. Overall earnings for 2007 were $7.18 per share, a rise of 18 percent over 2006, according to IBM.The company also said it had more than $16 billion in cash on hand at the end of 2007.Shares of IBM shot up nearly 8 percent on the news in premarket trading Monday, to $105.36.IBM plans to provide a full earnings report during a webcast on Thursday.
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Computer server and software maker IBM said Monday its fourth-quarter earnings from continuing operations rose 24 percent from a year ago, beating Wall Street expectations by a wide margin.
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IBM  reported  better-than-expected preliminary quarterly results on Monday on  strong performances in Asia, Europe and emerging markets,  driving its shares up 10 percent and spurring a broader tech  rally.
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Oracle Corp  posted a 35 percent rise in quarterly profit on higher-than-expected software sales and issued a strong outlook, easing concerns it may be hurt by the slowing U.S. economy and pushing its shares up 6.5 percent.
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IBM  reported a better-than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 6 percent and spurring a broader tech rally.
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Shares of IBM  gained 4 percent on Tuesday after the world's largest computer company posted third-quarter results that marked a recovery from a weak second-quarter performance, Wall Street commentators said.
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International Business Machines Corp. topped fourth-quarter expectations by a healthy margin, with strong overseas sales and a weak dollar helping to generate a profit of &#36;3.04 billion.