IBM on Thursday said fourth-quarter earnings fell from a year ago, the second quarterly decline in a row, as customers concerned about an economic downturn held back on buying new technology.
IBM says it earned $1.33 per share, down from the $1.48 per share it earned in the year-earlier quarter.
IBM, which sells everything from PCs to giant mainframe computers to computer software, says revenues declined, to $22.8 billion from the $25.6 billion in sales it booked during the year-earlier quarter.
Analysts had expected earnings of $1.32 per share within a range of $1.22 to $1.37 per share, according to research firm Thomson Financial/First Call.
Copyright 2000 Reuters Limited. All rights reserved.
Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters.
Reuters shall be not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.