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IBM Beats; Revenue Down 1% To $29.3B; Net Income Up 6% To $6.1B

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http://techcrunch.com – IBM just released its Q4 2012 financials. The company’s GAAP net income came in at $5.8 billion, up 6% from last year. Non-GAAP net income was $6.1 billion. Overall, the company reported revenue of $29.3 billion, down 1%. Earnings per share were $5.39 compared to $4.71 per share in the fourth quarter of 2011, an increase of 14 percent. Analysts expected double digit growth from IBM. According to Thomson Reuters, IBM was expected to report earnings per share of $5.25, up from $4.71 compared to last year. Analysts also expected an 11% growth rate. Revenue  was supposed to slip 1.2% to $2 (IT news)