Computerworld: For the fourth quarter of 2011, IBM reported revenue $29.5 billion, a 2 percent year-over-year increase. Net income rose 4 percent over the previous year to hit $5.5 billion. Those results fell just shy of analysts expectations of $29.71 billion in revenue and $5.6 billion in net income.
"So, 2011 was another very good year for us," said Mark Loughridge, IBM senior vice president and CFO. "Our focus on key growth initiatives and investments in innovation are enabling us to expand into new markets and capitalize on trends like analytics and cloud."
IBM's software and services business units performed well during the quarter, with its WebSphere, Information Management and Tivoli lines showing large gains. Cloud computing initiatives also did well, earning the company three times as much as they did in 2010. However, Systems and Technology revenue declined 8 percent during the quarter.