International Business Machines Corp (IBM) said yesterday its earnings rose about 7 per cent in the third quarter, a shade better than average forecasts on Wall Street.

The world's largest computer maker said net earnings rose to $1.5 billion (£993 million) in the quarter from $1.4 billion a year earlier. Earnings per share rose to $1.56 from $1.35, with the latest results three cents higher than the average analysts' forecast of $1.53 a share, according to First Call, which tracks estimates.