SANTA CLARA (California): Intel Corp CEO Paul Otellini said the company’s revenue and net income per share should see a percentage increase in the low double digits over the next few years because of rising demand for its chips in PCs and other devices.
On both measures, Intel’s numbers have declined over the past two years as business spending on PCs and computer servers collapsed amid the recession. However, strong buying by bargain-hunting consumers has helped lift Intel’s fortunes in recent quarters, and sales of server chips — some of Intel’s most profitable products — have improved.
Otellini told investors and financial analysts at a conference at Intel’s Silicon Valley headquarters yesterday that the forecast proves that PCs are “still a growth industry.”
It’s difficult to say, however, how the new guidance compares with analysts’ expectations.
Otellini’s forecast was based on a “compound annual growth rate,” a measure that includes multiple years of results. He did not specify the years.
Analysts polled by Thomson Reuters expected Intel’s recovery from the downturn to show a 23% increase in revenue and a more than doubling of earnings per share in 2010 over the year before.
For 2011, the analysts expected less-dramatic growth of a 5% increase in both revenue and earnings per share, compared with their 2010 forecasts. — AP
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