Intel profits up as chipmaker promises more investment

Intel’s profits have beating Wall Street forecasts despite the chipmaker warning last month that slower global PC sales might dent its figures.Intel profits up as chipmaker promises more investmentNet profits in the last three months of 2011 rose 6% to $3.4 billion (£2.2 billion) on revenues up 21% at $13.9 billion.

The floods last year in Thailand have hit supplies of computer hard drives.

Analysts want Intel to move faster into the tablet and mobile market and Intel promised to spend more developing chips for new devices.

The company also said it would boost capital expenditure in 2012 to about $12.5 billion, up from $10.7 billion in 2011.

Intel president and chief executive Paul Otellini said 2011 had been an “exceptional” year.

“With outstanding execution the company performed superbly, growing revenue by more than $10bn and eclipsing all annual revenue and earnings records,” he said in a statement.

He added: “With a tremendous product and technology pipeline for 2012, we’re excited about the global growth opportunities presented by Ultrabook systems, the data centre, security and the introduction of Intel-powered smartphones and tablets.”

February 1, 2012  Tags: , , , , , ,   Posted in: Business Profits, Business Win, Global Business, Growing Business, Technological Businesses, Uncategorized, Winning Business

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