IBM earnings beat analyst expectations

From CNET News.com: IBM reported Tuesday a 12 percent increase in fourth-quarter earnings, coming in stronger than analysts' expectations.

Big Blue generated net income of $4.4 billion, or $3.28 a share, for the quarter, up 12 percent over the same period a year ago.

Wall Street had expected Big Blue to post earnings of $3.03 a share for the three-month period.

The technology bellwether also reported that it is not only on track to achieve its previously stated goal of generating an annual profit of $10 to $11 a share in 2010, but that it's ahead of the pace it set out to get there.

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