Unlike Google earlier in the day, Intel has reported financial results for the final quarter of 2011 which have beat its own and Wall Street's expectations.
Back in December Intel warned analysts to expect weaker revenue than had been initially predicted, aiming for the figure of $13.7 billion, however CEO Paul Otellini last night reported actual revenue of $13.9bn for the final three months of 2011.
This is an increase in revenue of 21 per cent compared to the same period last year. Overall in 2011 Intel earned $54bn in revenue which is a 24 per cent increase in 2010 with the “mega-trend” of cloud computing a major contributing factor to this total.
Otellini was understandably upbeat about the performance of the past year: “The company performed superbly, growing revenue by more than $10 billion and eclipsing all annual revenue and earnings records,” he said in a news release.
On a more negative note, the company’s Atom processor line, which powers netbooks and tablets, was the poorest performing sector with revenues dropping by 38 per cent compared to the third quarter and down a huge 57 per cent year-on-year.
Looking forward, unsurprisingly, Intel is hyping the Ultrabook as an area of big growth for the company. However it is not getting carried away, forecasting a conservative $12.8bn in revenue for the first quarter of 2012, with the shortage of hard disk drives continuing to impact on results.
"People are very excited about the feature set and having the PC reenergized," Otellini said. "In terms of a target, what we said before is that our goal this year will be to exit the year at about 40 percent of consumer notebooks being Ultrabook."
Will Ultrabooks be able to capture 40 per cent of the notebook market? Let us know what you think in the comments below.