Tech Boom: Intel’s Earnings Up an Astounding 875%
We thought Zillow’s 2011 IPO was a good sign for the tech and Internet market. Intel has not only just confirmed that notion, but blown everybody’s expectations right out of the water.
The world’s largest chipmaker just wowed Wall Street and the tech world with its latest earnings report. The publicly-traded company reported a net income of $2.3 billion in the fourth quarter of 2009, up an amazing 875 percent from its $234 million earnings in the fourth quarter of 2008. This more than beat Wall Street expectations.
While we won’t go into detail about the financial numbers (you can do that here [PDF]), we do want to highlight some of the key stats:
- Revenues in Q4 2009 rose to $10.6 billion, a climb of 28 percent from $8.3 billion last year.
- However, if you look at the big picture, Intel had a better 2008 than 2009. 2009 revenues were $35.1 billion, while 2008 revenues reached $37.6 billion. That’s a 7 percent difference.
- Intel predicts revenues of approximately $9.7 billion in Q1 2010, above Wall Street estimates.
- Around a year ago, at the heart of the economic collapse, Intel decided to invest $7 billion into new chip plants. It looks to be paying off.
Intel’s Q4 report is one of the first to come out this year, but it won’t be the last. If Intel’s numbers are any indication though, we’re nearing the light at the end of the tunnel
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FTC sues Intel over chip dominance
NEW YORK (CNNMoney.com) — The Federal Trade Commission said Wednesday it is suing Intel Corp., the world’s largest chip maker, for alleged anticompetitive practices.
The commission says Intel (INTC, Fortune 500) has acted to keep rivals from competing with the company in the semiconductor marketplace. The chipmaker allegedly threatened the biggest computer companies to coerce them not to install rivals’ microchips in their PCs.
“In the process, Intel deprived consumers of choice and innovation in the microchips that comprise the computers’ central processing unit, or CPU,” the FTC said in a release.
The commission voted 3-0 on the complaint, which says that Intel engaged in “illegal monopolization,” “unfair methods of competition” and “deceptive acts and practices in commerce.”
Intel did not immediately return a request for comment.
In May, European regulators levied a record $1.5 billion fine against Intel for unfairly paying computer makers to delay or even cancel products that contained chips made by rival Advanced Micro Devices (AMD, Fortune 500).
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