IBM Q4 2011 Net Profits Grow 4%

Company does well for the overall year as well, profits up 7%

It appears that IBM had a good time in 2011, even though the economy is still struggling.

For the fourth quarter, it scored a net income of $5.5 billion, 4% higher than the $5.3 billion of Q4 2010. That's 4.26 billion Euro compared to 4.10 billion.

Meanwhile, for the whole year, IBM's net profit went up 7%, from $14.8 billion to $15.9 billion (11.47 billion to 12.32 billion Euro).

That said, total revenues for Q4 were of $29.5 billion / 22.86 billion Euro (2 percent up) while full-year revenue reached $106.9 billion / 82.85 billion Euro (7% up, 3% adjusting for currency).

“We had a strong fourth-quarter performance, capping a year of record earnings per share, revenue, profit and free cash flow,” said Ginni Rometty, IBM president and chief executive officer.

“We delivered outstanding results in all four of our strategic initiatives for the quarter and the year.”

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