Computing giant reports 24 per cent growth compared to previous year
Intel has reported full-year revenue of $54 billion and gained a net income of $12.9 billion in what it called an “exceptional 2011”.
For the fourth quarter alone, the computing giant posted revenues of $13.9 billion and a net income of $3.4 billion.
Non GAAP and GAAP results for 2011 revenue was up 24 per cent on 2010’s results.
The firm however reported a 57 per cent drop on sales of its Atom microprocessor, with revenues falling to $167 million.
The firm added that its 2012 full-year capital spending would amount to approximately $12.5 billion, with the development of its Ultrabook ‘subnotebook’ and spending on chips for smartphones and tablets.
“2011 was an exceptional year for Intel,” said Intel president Paul Otellini.
“With outstanding execution the company performed superbly, growing revenue by more than $10 billion and eclipsing all annual revenue and earnings records.
“With a tremendous product and technology pipeline for 2012, we’re excited about the global growth opportunities presented by Ultrabook systems, the data center, security and the introduction of Intel-powered smartphones and tablets.”