Here's what I got from my broker..

Earnings Summary
On 1/19/2012, IBM reported 4 quarter 2011 earnings of $4.71 per share. This result was in-line with the consensus of the 24 analysts following the company and beat last year's 4 quarter results by 12.68%.
The next earnings announcement is expected on 04/17/2012.

S&P MAINTAINS STRONG BUY OPINION ON SHARES OF INTERNATIONAL BUSINESS MACHINES
22 days 1 hours 8 minutes ago - Standard & Poor's
IBM posts Q4 operating EPS of $4.71, vs. $4.25, $0.09 above our estimate. For 2012, we look for revenue growth of 2%, as the company benefits from acquisitions, as well as strong gains in the software segment and in emerging markets. However, we expect the hardware segment to continue to lag. We see an incremental widening of operating margins this year on improved productivity and a favorable sales mix. We are lifting our 2012 EPS forecast $0.02 to $14.93 and introducing 2013's at $16.41. We reiterate our P/E-based 12-month target price of $205.  IBM's PE ratio is below the Computer Services industry average and signals that investors are not willing to pay a premium for this stock. However, during the past year, earnings growth has lagged its historical five year growth rate.