Intel's net profits surge 167% in record 2010

- Friday, January 14, 2011

Intel's net profits surge 167% in record 2010

In a record year, US chip manufacturer Intel saw US$11.7bn in net profits for full year 2010, jumping 167%, according to a company statement.

Yearly revenues of US$43.6bn, up 24%, and a 179% surge in operating income to US$15.9bn also set records for Intel.

Fourth-quarter results also saw record highs in revenue, operating income and net income. Intel posted a Q4 net income of US$3.4bn, a 15% sequential increase. Revenues were at US$11.5bn, up 3% sequentially.

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Intel predicts 1Q11 revenues of US$11.5bn, give or take US$400mn.

Last year, Intel strengthened its distribution partner network in Argentina and expected to sell 5mn chips in the Argentine market. The company also said recently that it sees strong potential for expansion in the small and medium enterprises sector in Brazil, where it has operations in more than 80% of Brazilian cities.

Follow this link for the full financial statement.