SAN FRANCISCO (Reuters) - IBM, the world's biggest computer-services company, on Tuesday said quarterly profit rose 22 percent on lower costs and strong sales of advanced microprocessors for video game machines.
The results beat consensus forecasts from analysts and the company said it expected 2006 earnings to be "consistent" with analysts' estimates. IBM shares rose 1.4 percent in after-hours trade following the earnings report.
"It looked like a solid quarter," said Chris Whitmore, an analyst at Deutsche Bank Securities who has a "buy" rating on the stock. "Revenues came in slightly ahead of consensus."
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Apr 19, 2006, 06:56 AM
