13 Jan '11, 10pm

Intel reports record earnings for 2010

SAN FRANCISCO: US computer chip giant Intel on Thursday reported that it posted its best earnings ever in 2010 as businesses and consumers snapped up processors for networks and mobile devices. Intel said it took in a net profit of $11.7 billion for the year on revenue of $43.6 billion in a 167 percent jump from the profit it posted in 2009. "2010 was the best year in Intel's history," the California-based company's chief executive Paul Otellini said in comments released with the earnings report. "We believe that 2011 will be even better." Intel's net profit for the final quarter was $3.4 billion, a 48 percent increase from the same quarter a year earlier. Intel's stock price climbed more than two percent to $21.75 a share shortly after the release of the earnings results. Intel noted that the $140 million it took in from investments for the year was better than it expecte...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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