The computer and tech services giant IBM said fourth-quarter revenues from continuing operations were up 9% at $25.9 billion, beating estimates of $25 billion.
Income from continuing operations was $2.7 billion compared with $1.9 billion a year ago, an increase of 42%, including $405m for the after-tax charges primarily related to an acquisition.
"We enter 2004 with good momentum. The client buying environment is steadily improving," said chairman and chief executive Samuel Palmisano in a statement.
IBM decided to release its results earlier than the January 20 date initially planned. The company said last week it could face action by the Securities and Exchange Commission for allegedly aiding and abetting accounting misstatements made by retailer Dollar General.
