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By | John Oates 14th January 2008 14:32

IBM prelims beat the Street

Europe pushes strong fourth quarter

IBM increased profits and turnover in the fourth quarter of 2007. Big Blue made revenues of $28.9bn in the three months ended 31 December 2007 - up ten per cent.

Six per cent of this increase was down to improved currency exchange rates. Earnings per share jumped 24 per cent to $2.80 a share, compared to the $2.40 Wall Street analysts were expecting.

IBM said strong sales in Asia, Europe, and emerging markets helped boost the bottom line. The sale of IBM's printing division contributed five cents per share to profits.

For the full year, IBM has grown earnings per share by 18 per cent to $7.18 and full year revenues were up eight per cent to $98.8bn.

IBM's full press release is here, and will have more later. ®

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