IBM shares surge as profit rises 4%

IBM’s fourth-quarter earnings handily beat Wall Street’s expectations last night, helped by higher revenue from the technology icon’s lucrative software and services segments.

The results and a stronger-than-expected earnings outlook for the year sent IBM’s stock more than 3% higher after hours.

It was a welcome sign of stability amid the global economic turmoil that’s prompting worries about a slowdown in technology spending among businesses and government agencies.