Intel Posts Record Q4 Results

US IT giant Intel has posted a record breaking financial results for the fourth quarter 2010 and has hinted towards a stronger 2011.

The company's fourth quarter revenue hit $11.5 billion, a jump of around 8 per cent fromthe same time last year and beating Wall Street estimates of $11.37 billion.

Intel also posted a net income of $3.4 billion, a massive 48 per cent increase over the previous fourth quarter. Overall, the company's profit full year hit $11.7 billion after it raked in $43.6 billion in sales.

Dubbing 2010 as the best year in Intel's history, CEO Paul S. Otellini predicted that the company was going to rake in anywhere between $11.1 billion to $11.9 billion in the first three months of 2011.

Intel said that it is expecting great things from the recently launched Sandy Bridge line of processors.

"It seems to be getting widespread acceptance from the customers. Even with the consumer market being a little bit weak we expect it to ramp sales nicely in Q1," Chief Financial Officer Stacy Smith told Reuters.