Intel Corp. (INTC) - 88 out 100 FusionIQ score) scored a 48 percent boost in net income in the fourth quarter. This comes at a time when overall spending on PC’s is weak due to the weaker economic picture than in years past as well as from competition from tablets and smart phones, which remains a real threat to the pc. PC’s still dominate market share with more than 1 million PC’s being sold every day. However the industry remains shaky as smart phones and tablets such as the iPad compete for market share.
Intel’s fourth quarter, was driven by sales of server chips which helped to offset weakness in sales of chips for consumer PCs. That trend was in line with what the company was predicting, as demand started to falter this summer amid the European debt crisis and other economic woes such as prolonged unemployment in the U.S., Intel's chief financial officer, Stacy Smith, said in an interview.
For the quarter Intel reported net income of $3.39 billion, or 59 cents per share this was greater than the 53 cents per share analysts had expected. This compares to $2.28 billion, or 40 cents per share in the same period in 2009. Revenue rose 8 percent to $11.5 billion, up from $10.6 billion. Analysts predicted $11.4 billion.
Intel CEO Paul Otellini called 2010 " the best year in Intel's history" and predicted that 2011 would be "even better." The company raised first-quarter revenue guidance to $11.1 billion to $11.9 billion, ahead analysts' expectation for $10.8 billion.
In after hours trading Intel shares increased 58 cents, or 2.2 percent, to $21.87.
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