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Thursday, July 17, 2008
IBM ups 2008 earnings target again
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IBM Corp. its raising its profit targets for the year _ again.

The technology company says it should earn $8.75 per share this year, as its international diversity and product mix help it get past troubles in its biggest customer segment, financial services, and broader weakness in the U.S. economy.

In January, analysts were expecting IBM to earn $7.94 per share this year. On the quarterly earnings call that month, IBM raised the target to between $8.20 and $8.30 per share.

Then when IBM last released quarterly results in April, the company said it expected to earn at least $8.50 per share for the year.

In announcing an 22 percent jump in profits Thursday, IBM's chief financial officer, Mark Loughridge (LOCK'-ridge) expressed even more confidence, raising the target to $8.75.
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