Intel beats Street with record year
Analysts underestimate Chipzilla
Intel had a record-breaking 2011, with record revenues of $54bn, record net income of $12.9bn, and record earnings per share of $2.39.
"2011 was an exceptional year for Intel," said Intel president and CEO Paul Otellini in a statement – for the record, of course. "With outstanding execution the company performed superbly, growing revenue by more than $10 billion and eclipsing all annual revenue and earnings records."
Otellini's remarks came as the company announced its financials for its fourth quarter of 2011, in which it exceeded analysts' consensus expectations of 61¢ per share – a bit – by reporting an EPS of 64¢.
Last month, Intel lowered its earlier Q4 revenue estimates to between $13.4bn and $14bn, citing the flooding in Thailand and general economic unease, not the least of which was due to the ongoing European debt crisis.
The consensus on the Street was that Chipzilla would hit the midpoint of that range: $13.7bn. The company, however, bested that outlook, posting revenues of $13.9bn for the final quarter of 2011.
During all of 2011, Intel paid out $4.1bn in dividends, and bought back 642 million shares for $14.1bn. ®