IBM Gains as Software Shift Helps Forecast Beat Estimates
This article is for subscribers only.
International Business Machines Corp., the world’s biggest computer-services provider, rose the most in a year after forecasting profit that exceeded analyst estimates.
Earnings in 2013 will be at least $16.70 a share, Armonk, New York-based IBM said in a statement yesterday. That compares with the $16.64 average estimate of analysts tracked by Bloomberg. The shares gained 4.4 percent to $204.72 at the close in New York, the biggest gain since Jan. 20, 2012.