IBM raises ‘09 guidance again; customers still tightfisted but company expects to wring profit

IBM boosts guidance again even as sales fall

SAN FRANCISCO — IBM Corp. has raised its full-year profit guidance again.

The move is a sign that IBM is even more optimistic it can uncork more profit from its services and software divisions despite falling sales.

The company’s third-quarter results show that companies are still reluctant to spend money on some kinds of technologies. IBM’s sales fell 7 percent, but net income was up 14 percent.

IBM says 2009 earnings should be at least $9.85 per share. It had raised its guidance before, in July, to at least $9.70 per share.