IBM reiterates profit outlook

A worker is silhouetted in front of a huge screen with the IBM logo ahead of the CeBIT fair inside a hall in Hanover March 1, 2008.

NEW YORK (Reuters) - International Business Machines Corp (IBM.N) on Tuesday repeated that it expects to earn "at least" $9.70 a share this year.

In a federal filing, the company also reiterated that it was "well ahead" of its plan of achieving earnings per share of $10 to $11 for 2010.

Analysts surveyed by Reuters Estimates had expected a profit of $9.76 for 2009 and $10.68 for 2010.

IBM, which has shifted its focus from computers to higher-margin software and services over the past decade, first raised its 2009 EPS outlook in July. It had previously expected a profit of $9.20 for 2009.

Shares of IBM were a bit higher in premarket trading, climbing to $118.18 after closing at $117.46 on Friday on the New York Stock Exchange.

(Reporting by Franklin Paul, editing by Gerald E. McCormick)