BUSINESS BRIEFING / TECHNOLOGY
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TIMES WIRE REPORTS
IBM Corp. is again backing its forecast for profit of $9.20 a share this year.
The Armonk, N.Y., technology company is standing by its bullish forecast because it says it’s making better profit margins in its services and software divisions as it continues to slash costs, offsetting weakening sales.
The forecast is surprisingly high and shows IBM’s confidence in its ability to wring out more profit even in tough times.
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