EARNINGS : IBM Reports 316% Increase
From Times Wire Services
ARMONK, N.Y. —
International Business Machines Corp. said today in preliminary results that worldwide net earnings for the fourth quarter ended Dec. 31, 1990, were $2.5 billion, compared to about $600 million for the same period in 1989, an increase of 316%.
Earnings per share for the 1990 quarter were $4.30, compared to $1.04 for the same period the year before, an increase of 313%.
Worldwide revenue for the quarter was $23.1 billion, up 12.7% from the previous year’s $20.5 billion. For the whole of 1990, worldwide revenue rose 10.1% from 1989 to $69.0 billion, while net earnings were up 60% to $6.0 billion.
Earnings per share for the year rose 62.4% to $10.51.
