Friday, January 14, 2011

Intel (Nasdaq:INTC) Beats Street, Net Income Up 48 Percent

Intel (Nasdaq:INTC) easily beat estimates in their latest quarter, as net income in the fourth quarter soared by 48 percent, and revenue was up 8 percent.

The company said weakness in chips related to consumer PCs was offset by an increase in sales of server chips.

Net income for the quarter increased to $3.39 billion, or 59 cents a share for the quarter. That's in comparison to $2.28 billion, or 40 cents a share in the same quarter in 2009. Analysts had been looking for 53 cents a share.

Revenue surged to $11.46 billion, a gain of 8 percent, beating the $11.38 billion analysts were projecting.

Intel closed Thursday at $21.29, down $0.01, or 0.06 percent.

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