IBM Corp. (IBM) is expecting its growth efforts to generate $20 billion in new revenue by 2015.
Big Blue's chairman and chief executive, Sam Palmisano, said at the company's 2010 investor meeting Wednesday that he expects the company to generate $100 billion in free cash flow by fiscal 2015, and plans to spend $20 billion on acquisitions by that year.
Palmisano said this increased productivity will lead to $8 billion in savings by 2015, aiding the company to forecast earnings of at least $20 per share.
IBM also backed it’s earnings per share view of $11.20 a share for fiscal 2010, which is slightly below analysts forecasts for earnings of $11.27 a share.
Shares of IBM climbed $4.52 or 3.56% to $131.41 in afternoon trading, Wednesday on the New York Stock Exchange.
View IBM's presentation here.
