International Business Machines, the world's largest technology services company, reported higher first-quarter earnings today as sales of software and computer services increased.
Net income rose to $1.84 billion, or $1.21 per share, from $1.71 billion, or $1.08 per share, a year earlier. Revenue climbed to $22.03 billion from $20.66 billion, IBM said.
Analysts, on average, expected earnings of $1.21 per share on revenue of $21.9 billion, according to estimates. Last year, IBM paid nearly $5 billion for 13 acquisitions to boost sales of software and services. Shares of IBM rose 1.5 percent to $98.60 in after-hours trading following the earnings report.