Intel results beat estimates

By @ibtimes on

Intel Corp posted an 8 percent increase in fourth-quarter revenue and forecast revenue of $11.1 billion to $11.9 billion in the first three months of 2011, riding an upswing in corporate technology spending.

The fourth-quarter revenue slightly exceeded the $11.37 billion expected by analysts, according to Thomson Reuters I/B/E/S. Analysts, on average, had expected revenue of $10.73 billion in the first three months of 2011.

Intel said net income totaled $3.4 billion, or 59 cents a share, in the fourth quarter, compared with 53 cents per share expected by analysts.

It forecast a gross margin of 64 percent in the current quarter, plus or minus two percentage points.

Shares of Intel rose 1.5 percent to $21.61 in after-hours trading, after closing down 0.06 percent at $21.29 on Nasdaq.

(Reporting by Noel Randewich; Editing by Richard Chang)

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