ARMONK, N.Y. (AP) _ International Business Machines Corp. (IBM) on Monday reported fourth-quarter net income of $2.33 billion.

The Armonk, New York-based company said it had profit of $2.57 per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $3.35 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.39 per share.

The technology and consulting company posted revenue of $16.7 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $17.52 billion.

For the year, the company reported profit of $5.74 billion, or $6.35 per share. Revenue was reported as $57.35 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBM at https://www.zacks.com/ap/IBM

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News