Intel Exceeds Earnings Expectations
Chip maker's fourth-quarter revenue up 10 percent, led by robust demand for server and notebook processors.Tom Krazit, IDG News Service
Intel enjoyed a solid fourth quarter as expected, with strong demand for its products from both consumers and businesses, the company said Tuesday. Intel recorded $9.6 billion in revenue during the fourth quarter, up 10 percent from the fourth quarter of last year.
Analysts polled by Thomson First Call expected the Santa Clara, California, company to amass $9.4 billion in revenue.
Net income for the quarter was $2.1 billion, down 2 percent compared to the same period in 2003. Earnings per share were $0.33, $0.02 more than analysts had expected.
Full Fiscal Year Good Also
For the full year, the company managed to top its previous record for yearly revenue, set in 2000. Intel recorded $34.2 billion in revenue during 2004, up 13.5 percent from 2003 and slightly higher than the $33.7 billion recorded in 2000. Net income for 2004 was $7.5 billion, up 33 percent from the $5.6 billion Intel earned in 2003.
The company shipped record numbers of processors for servers and notebooks during the quarter, which is usually the strongest quarter of the year for IT hardware companies.
For the first quarter of 2005, Intel expects revenue to come in between $8.8 billion and $9.4 billion. Intel's business typically moves in a seasonal pattern, with a strong fourth quarter followed by a weaker first quarter.