ARMONK, N.Y. (AP) _ International Business Machines Corp. (IBM) on Wednesday reported fourth-quarter net income of $2.71 billion.

On a per-share basis, the Armonk, New York-based company said it had net income of $2.96. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $3.60 per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.61 per share.

The technology and consulting company posted revenue of $16.69 billion in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $15.55 billion.

For the year, the company reported profit of $1.64 billion, or $1.80 per share. Revenue was reported as $60.53 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

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