IBM reported its 2017 fourth quarter and full year results. Fourth quarter revenue was $22.5 billion, a 4% increase compared to $21.8 billion reported in Q4 of 2016. Net loss was $1.1 billion compared to net income of $4.5 billion reported in Q4 of 2016. The year-over-year decrease of 123% in net income was due to one-time charge of $5.5 billion associated with the enactment of U.S. tax reform. The company said excluding the one-time charges, net income was $4.8 billion.
For the full year, revenue was $79.1 billion ($80 billion in 2016) and net income was $5.8 billion ($11.9 billion in 2016). Excluding the one-time charges, net income was $12.9 billion.
IBM added that it is pleased with revenues for its strategic imperatives, which grew at double-digit rate and now represent 46% of the total revenue.
