IBM beats earnings expectations

For the last three months of 2005, IBM earned $1.99 per share, this after taking a 10 cent and two cent per share hit for its pension freeze and accounting change during the quarter. Analysts had predicted $1.94 per share.

Reportedly,

the real hardware star was the microelectronics division, which was a laggard in previous years but saw sales leap 48 percent in the fourth quarter. The group makes chips for video game consoles and other high-end applications.

Read an AP article at SiliconValley.Com linked here.

Hat tip to Joe for the link.