Intel Income Up 875%, Continuing Major Momentum

Intel (INTC) posted a fourth-quarter net income of $2.3 billion, up 875% over its report last year at this time. Record revenues came in at $10.6 billion, up 28% year over year. Further the company yet again boosted its revenue guidance saying it expects first quarter revenue of $9.30 billion to $10.10 billion. The consensus estimate had been for revenue of $9.26 billion for the quarter ending March 31, 2010.

The impressive swing in net income was about 10 times greater than the $234 million (4 cents per share) that the firm reported last year on January 15.

We've continued to watch in amazement as Intel seemed completely unfazed by the economic downturn of 2008 and 2009:

1. January 2009: Intel beats its Q4 2008 estimates amidst negative headlines everywhere else.

2. April 2009: Intel declares, "We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns." In the first-quarter, the firm's profit far exceeded analyst views.

3. July 2009: Still swimming upstream, Intel posts its largest quarterly sequential increase in sales since 1988, further boosts its guidance for Q3 in the face of naysayers calling forlackluster Q3 growth.

4. Oct 2009: Cisco (CSCO) joins Intel in declaring that "Recovery Is Gaining Momentum."

And just prior to yesterday's Intel announcement you'll remember that analyst firm IDC declared that in Q4 2009, the U.S. PC "market exploded higher."