Intel records record revenues for final quarter of 2004
Intel romped home to close its fourth quarter with record revenues of $9.6bn.
Up 13 per cent sequentially and 10 per cent year on year, Intel forged ahead of analyst expectations of $9.42bn, fuelled by strong sales of its server and mobile processors.
The quarter ended in a net income of $2.1bn, again up sequentially but actually down 2 per cent year on year.
However this belies a generally inproving market, as the full year figures show a 33 per cent jump in net income from 03 to 04: from $5.6bn to $7.5bn.
In contrast, Intel’s closest rival AMD, issued a profits warning as it was having a tough time shifting its flash memory products, and subsequently wiping more than a quarter off its share value.
Wall Street therefore welcomed the news, pushing Intel shares up some 3 per cent to $23.20 after hours trading.
‘We ended 2004 with record revenues and robust demand for Intel architecture products across all geographies and channels,’ said Intel CEO Craig R. Barrett. ‘Our investments in manufacturing capacity, innovative new products and global presence have allowed us to post double-digit gains in both revenue and profits two years in a row.’
‘In 2005,’ he added, ‘we look forward to continued growth as we ramp our 65nm process technology and introduce our first dual-core microprocessors across a range of new platforms.’
In its outlook for 2005, Intel expects first quarter revenues to be in the region of $8.8bn and $9.4bn and it will increase funds for R&D for the year from $4.8bn to $5.2bn.