Intel delivered a stronger-than-expected fourth quarter and a promising outlook for the next three months. In addition, the chipmaker said consumer demand has returned.
On Thursday Intel reported fourth-quarter net income of $2.3bn (£1.4bn), or 40 cents a share, on revenue of $10.6bn, up 28 percent from the year ago quarter. Wall Street was expecting earnings of 30 cents a share on revenue of $10.17bn. The results include a $1.25bn litigation settlement paid to AMD. Excluding that payment, Intel's earnings would have been 55 cents a share.
Intel chief financial officer Stacy Smith said: "We have seen a return of consumer demand and replenishment to normal inventory levels after the precipitous demand drop at the end of 2008 and beginning of 2009. Operationally, the fourth quarter of 2009 was one of our most profitable quarters ever."
For more on this story, see Intel shines: 'We have seen a return of consumer demand' on ZDNet.com.