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News Summary: IBM posts higher 4Q net income

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The Associated Press | January 21, 2014 06:03 PM EST | AP


THE QUARTER: IBM's fourth-quarter net income grew 6 percent, surpassing Wall Street's expectations even though revenue declined amid a big hardware slump.

FORECAST: The world's largest technology services company is forecasting 2014 adjusted earnings of at least $18 per share. Analysts expect $18.02 per share. And the company says it remains "on track" toward its adjusted earnings goal of at least $20 in 2015.

COMPENSATION: CEO Ginni Rometty said she's recommending that senior executives, including herself, forgo personal bonuses for the year.