Posted on 01/20/2009 1:38:36 PM PST by Golddigger3
IBM Corp. is forecasting significantly higher profits for 2009 than Wall Street expected, a sign that the company's focus on high-margin services and software contracts is paying off even while overall sales are slumping.
The Armonk, N.Y.-based company predicted at least $9.20 per share in profit in 2009. Analysts surveyed by Thomson Reuters were expecting $8.75 a share.
The rosy forecast came as IBM reported that fourth-quarter profit rose 12 percent, beating analyst estimates, . . . [but] sales fell 6 percent, missing the consensus estimate.
(Excerpt) Read more at apnews.myway.com ...
O’s economic plan must be working, uh? /s
Hussein’s tax plan will nip that profit right in the bud!
Nothing to do with Obama. This could have been predicted, based on IBM’s business model.
IBM helps other companies streamline operations and cut cost. Those companies are beating a path to IBM’s doors right now, including the big Wall Street players.
In the very short term, 4Q 08, sales dropped as everybody froze in their tracks. Now the IBM customers have figured out what they need to do.
My son-in-law has been helping IBM with those profits!!!
More layoffs quietly underway at IBM, group says - http://www.freerepublic.com/focus/f-news/2175168/posts
IBM Quietly Cuts Thousands Of Jobs (Obama’s Fault) - http://www.freerepublic.com/focus/f-news/2173610/posts
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