IBM today announced fourth quarter earnings of $4.0 billion, up almost 12% from $3.5 billion reported for Q4 2006. Revenues were up 10% from $26.3 billion to $28.9 billion in the same time frame. For the complete year, IBM reported sales of $98.8 billion, up 8% from $91.4 billion in 2006. Net income for the year climbed 11% from $9.4 billion to $10.4 billion.

"IBM had a terrific fourth quarter and full year with record revenue, profit and cash. The broad scope of our global business - led by strong operational performance in Asia, Europe and emerging countries - as well as continued growth in services and software drove these outstanding results," said Samuel Palmisano, IBM chairman, president and chief executive officer, in a prepared statement.