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IBM plans $15 bln stock buyback
2008-02-26 14:36:10 Xinhua English
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NEW YORK, Feb. 26 (Xinhua) -- International Business Machines Corp. (IBM), the world's biggest computer-services company, announced Tuesday its plan to buy back an additional 15 billion U.S. dollars of stock and boosted its annual forecast.
The repurchase, which comes on top of 400 million dollars remaining under a previous plan, may boost earnings by 5 cents a share this year, said IBM.
The company also raised its 2008 profit forecast to at least 8.25 dollars a share, from at least 8.20 dollars.
Last month, IBM reported that fourth-quarter net income climbed12 percent to 3.95 billion dollars, or 2.80 dollars a share, beating analysts' estimates.
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