IBM posted sharply higher profits for its fourth quarter as software and services paced the technology giant, but some weakness in hardware sales led investors to sell off Big Blue shares. IBM said Friday that its net income during the period was $3.54 billion, or $2.31 per share, up 11 percent from the same time frame in 2005. Revenue was up 7.5 percent to $26.3 billion, beating most analyst estimates. “IBM had a terrific quarter and a good year,” said CEO Samuel J. Palmisano.

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