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SMALL BUSINESS
Ahead of the Bell: IBM 3Q numbers due after close
AP
SAN FRANCISCO -IBM Corp.'s ability to keep boosting profits despite the recession and slumping sales shows how important its high-margin services and software businesses have become.
The company's move into emerging areas like "smart" power grids, deals that can command a premium price because of the specialty skills involved, has helped keep profits aloft even as corporate spending on technology in many areas has shriveled.
The Armonk, N.Y., company, which reports third-quarter earnings after the market closes Thursday, also relentlessly cuts cots.
IBM surprised Wall Street in July by raising its 2009 profit guidance to at least $9.70 per share, up 50 cents from the previous estimate.
Analysts expect IBM to earn $2.38 per share on $23.4 billion in sales. Last year, IBM earned $2.04 per share on $25.3 billion in sales.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-15 06:36:03
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