US technology giant IBM, one of Ireland's biggest multi-national employers, has reported a 7% increase in net profits for 2011, driven by surging business in dynamic emerging economies.
Net profits for the year hit $15.9 billion on revenues of $106.9 billion, also up 7% from 2010.
Profits in the final quarter of the year rose more slowly, up 4% from a year earlier to $5.5 billion on a 2% rise in revenues.
"We had a strong fourth-quarter performance, capping a year of record earnings per share, revenue, profit and free cash flow," said IBM president and chief executive Ginni Rometty.
The company said revenues in the BRIC countries - Brazil, Russia, India and China - increased 10%. This compared with just 3% in the Americas and 1% in its combined Europe, Middle East and Africa division.
For the year company earnings per share rose 11% to $4.62. IBM has an Irish workforce of over 3,000 people.
