Did IBM have another big quarter? The world finds out Monday after the markets close.

Wall Street expects IBM (NYSE: IBM) to improve its quarterly profit to $2.75 per share, a 35-cent improvement from a year ago, according to Thomson Reuters.

MarketWatch reported Societe Generale analyst Richard Nguyen told clients in a note that IBM likely will report software sales grew 5 percent, hardware sales rose 6 percent and services sales increased 4 percent.

However, revenues are expected to grow a paltry 2 percent to $24.11 billion.

“There haven’t been many companies better than IBM in driving operation efficiency over the past couple of years,” notes Stock Traders Daily. “For instance, it has kept the bottom line growing for eight quarters in a row, despite the fact that its’ best sales growth was a paltry 5 percent in 3Q08, and revenue actually declined in four of those quarters.”

Thomas Smith, an analyst at Standard & Poor’s, is positive about Big Blue.

"The shares have risen quite a bit lately," he told Reuters. "But I still view it as a very solid, long-term story because they have strong growth in services, software and hardware."
 

MarketWatch notes that FactSet Research expects IBM to report $2.76 per share in earnings with revenues at $24.2 billion.

Analysts polled by Thomson Reuters rate IBM stock favorably with nine ranking it as a “strong buy,” seven as a “buy,” eight as a “hold” and one as “under perform.”

IBM shares traded above $140 last week, a recent record high.

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