IBM (NYSE: IBM) reported Q4 EPS of $5.81, $0.40 better than the analyst estimate of $5.41. Revenue for the quarter came in at $24.11 billion versus the consensus estimate of $24.77 billion.

“We are making significant progress in our transformation, continuing to shift IBM’s business to higher value, and investing and positioning ourselves for the longer term," said Ginni Rometty, IBM chairman, president and chief executive officer.

"In 2014, we repositioned our hardware portfolio for higher value, maintained a services backlog of $128 billion and achieved strong revenue growth across cloud, analytics, mobile, social and security. Together these strategic imperatives grew 16 percent in 2014 and now represent $25 billion and 27 percent of our revenue.”

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