IBM: Q4 Profits Edge Ests Despite Light Revs; Shrs Gain

IBM shares are trading slightly higher after hours following a mixed Q4 earnings report.

For the quarter, the computer software, hardware and services giant reported revenue of $29.5 billion, a bit below the Street consensus at $29.71 billion, but non-GAAP profits of $4.71 a share topped the Street at $4.62. Non-GAAP gross margin was 50.2%, up 1.1 points from a year ago. Revenue was up 2% from a year ago, or 1% adjusting for currency.

The company said it expects 2012 non-GAAP profits of at least $14.85 a share, which is a bit above the old consensus at $14.82.

• Software revenue was up 9%.
• Global technology services revenue rose up 3%.
• Global business services revenue rose 3%, or 2% adjusting for currency.
• Services backlog is $141 billion, up $4 billion as reported, or $5 billion adjusted for currency, compared to Q3.
• Revenue was up 3% in the Americas, 1% in EMEA and 2% in Asia Pacific; on a currency adjusted basis, Asia-Pacific was down 1%.

IBM in late trading is up $4.96, or 2.8%, to $185.48.