Skip to comments.Intel earnings soar with rise of "cloud" computing
Posted on 01/13/2011 6:10:39 PM PST by Nachum
US computer chip giant Intel posted its best earnings ever in 2010 as businesses beefed up data centers to handle services increasingly shifting to the Internet "cloud."
Intel said it took in a net profit of $11.7 billion for the year on revenue of $43.6 billion, a 167 percent jump from the profit it posted in 2009.
"2010 was the best year in Intel's history," the California-based company's chief executive Paul Otellini said in comments released with the earnings report. "We believe that 2011 will be even better."
Intel's net profit for the final quarter was $3.4 billion, a 48 percent increase from the same quarter a year earlier.
Intel's stock price climbed more than two percent to $21.75 a share shortly after the release of the earnings results.
Executives said that Intel's business was being driven by emerging markets such as China, the consumer side of the market, and "the build out of the cloud" to add muscle to data centers to handle online services and software.
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You are your profile. And Big Brother owns it.
information is power. Concentrations of power oppress liberty. I don't think the founders understood "the cloud."
Every silver cloud has a dark lining.
I for one will not be going to the cloud. After the wikileaks episode I would be surprised if anyone would.