BUSINESS MEMO: COMPUTER FIRM REBOUNDS

NEW YORK -- International Business Machines Corp. reported its fourth-quarter profits grew 18.3 percent, lifted by surging demand for computer services and stronger sales of software and hardware.

IBM said it earned $2.02 billion, or $3.93 per share, in the quarter ended Dec. 31. Revenues rose 5.6 percent to $23.14 billion from $21.92 billion.

The profits were the latest sign of a rebound at the world's largest computer company and generally fell within forecasts of industry analysts.