IBM backs full-year profit forecast

May 14, 2009

(AP) -- IBM Corp. is again backing its forecast for profit of $9.20 per share this year.

The Armonk, N.Y.-based technology company is standing by its bullish forecast because it says it's making better margins in its services and software divisions as it continues to cut costs aggressively, offsetting weakening sales.

The forecast is surprisingly high and shows IBM's confidence in its ability to wring out more profits even in tough times.

IBM's , Mark Loughridge, reiterated the guidance at an investor meeting Wednesday in New York, where Sam Palmisano also made a rare public appearance.

Analysts on average are predicting 2009 profit of $9.11 per share, according to a poll by Thomson Reuters.

In the latest quarter, IBM's profit dipped slightly to $2.3 billion, while sales fell 11 percent to $21.7 billion.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Cheaper wireless plans cut into AT&T 2Q profit

add to favorites email to friend print save as pdf

Related Stories

IBM stumbles on 1Q sales dip; profit beats Street

Apr 20, 2009

(AP) -- IBM Corp.'s first-quarter results slipped as all its major business units suffered declines, but the company backed its bullish outlook for 2009 on Monday, reflecting its belief that a broad mix of services and software ...

Apple 2Q profit gains 15 percent, beats Street

Apr 22, 2009

(AP) -- Strong sales of the iPhone helped Apple Inc. lift its quarterly profit 15 percent, well ahead of Wall Street's expectations Wednesday despite the global economic downturn.

Adobe 1Q profit, sales drop, squeezed by downturn

Mar 17, 2009

(AP) -- Adobe Systems Inc., the company behind the popular Photoshop software, posted a decline in fiscal first-quarter profit and sales Tuesday, squeezed by the economic downturn.

Recommended for you

Cheaper wireless plans cut into AT&T 2Q profit

10 hours ago

(AP)—AT&T posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Facebook shares profit growth story

10 hours ago

Facebook on Wednesday reported that is quarterly profit more than doubled amid big gains in ad revenues and a jump in users.

Android grabs more tablet market share

12 hours ago

Global sales of tablet computers edged higher in the second quarter, in the slowest growth since 2009, research firm Strategy Analytics said Wednesday.

Microsoft CEO sees 'bold' plan as 4Q tops Street

Jul 23, 2014

(AP)—Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units—Nokia ...

Apple's fiscal 3Q earnings top analyst forecasts

Jul 22, 2014

Apple's growth prospects are looking brighter as anticipation builds for the upcoming release of the next iPhone, a model that is expected to cater to consumers yearning for a bigger screen.

User comments : 0