BOSTON (Reuters) - IBM raised its full-year profit forecast as it released quarterly earnings that were ahead of Wall Street forecasts, buoyed by growth in the computing giant's software and mainframe businesses.
International Business Machines Corp raised its forecast for full-year profit, excluding items, to at least $13.15 from its previous view of at least $13.00.
The company also reported first-quarter profit, excluding items, of $2.41 per share, ahead of the average analyst forecast of $2.30, according to Thomson Reuters I/B/E/S.
Revenue rose 8 percent from a year earlier to $24.6 billion, beating the average analyst forecast of $24.0 billion.
Shares in Armonk, New York-based IBM (IBM.NY)rose 1.9 percent to $168.50 in extended trade.
(Reporting by Jim Finkle, editing by Bernard Orr)
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