Technology giant IBM has reported 9 per cent rise in net income at $5.3 billion for the October-December quarter of 2010 boosted by demand for computer systems and software.
In the year-ago period, the company had a net income of $4.8 billion, the company said in a statement. It's total revenues increased 7 per cent from the year-ago period to $29 billion in the fourth quarter of 2010.
"We completed an outstanding year, with record profit and free cash flow, and exceeded the high end of our 2010 earnings per share roadmap objective," Chairman President and Chief Executive Samuel Palmisano said.
"We will continue to focus on our long-term strategic initiatives - growth markets, Smarter Planet Solutions, cloud and business analytics - as we drive to achieve our new roadmap target of operating earnings per share of at least $20 in 2015," Palmisano further said.
In terms of geographical locations, Asia-Pacific has emerged as best performer with revenue rising by 14 per cent from year-ago period to $6.6 billion in the fourth quarter of 2010.
IBM said revenue from American operations rose nine per cent to $12.2 billion, while revenue from Europe, the Middle East and Africa declined two percent to $9.5 billion
During the quarter, the tech firm said software revenue was up 11 per cent, systems and technology revenue rose 21 per cent and mainframe computer revenue jumped 69 per cent indicating that corporates are again spending on technology.
The company further said that business analytics revenue climbed 19 per cent, while services revenue was two per cent higher. For the year 2010, IBM said net profit surged 10 per cent to $14.8 billion while revenue was four per cent higher at $99.9 billion.
Looking ahead, IBM expects to post a net income of $12.56 per share for the year 2011.