EDS Beats Expectations by 2 Cents

Author:: Erica M. Berardi
Publish date:: Feb 7, 2001 5:32 PM EST

Electronic Data Systems

(EDS)

reported fourth-quarter earnings this afternoon that beat Wall Street's slightly lowered estimates by 2 cents.

For the fourth quarter ended Dec. 31, EDS earned 70 cents a diluted share, excluding items. The company earned 61 cents a share in the year-ago period. Sixteen analysts surveyed by

First Call/Thomson Financial

expected the company, which is based in Plano, Texas, to report earnings of 68 cents a share.

The computer services provider also reported fourth-quarter revenue of $5.2 billion, up from $4.9 billion in the same quarter one year ago.

Yesterday, the company named William M. Daley, the former Secretary of Commerce under President Clinton and chairman of the Gore-Lieberman presidential ticket, to its board. He fills the seat vacated by current Vice President Dick Cheney.

Shares of EDS closed at $56.90 on the

New York Stock Exchange

today.