CORRECT: Intel Otellini: Sees Intel Growth At $10 Bln A Year
CORRECT: Intel Otellini: Sees Intel Growth At $10 Bln A Year -Fox Business
Last update: 1/11/2012 2:14:19 PM
("Intel Otellini: Sees Intel Growth At $10 Bln A Year -Fox Business," at 1818 GMT, misstated the year in the 1st paragraph. The correct version follows:)
DOW JONES NEWSWIRES
Intel Corp. (INTC) President and CEO Paul Otellini said Wednesday despite the impact of Thai floods on the PC business he still sees record earnings of about $54 billion in 2012, and yearly growth of $10 billion a year.
Asked in an interview on Fox Business Network whether the chipmaker would be able to continue its string of six quarterly record earnings periods, the Intel chief said "it depends on what we do" but the mid-point of its numbers would still be a record $13.7 billion.
In other comments, Otellini said he hadn't met with Berkshire Hathaway Inc. (BRKA, BRKB) chief Warren Buffett since Berkshire bought 9.3 million shares of Intel stock in November. He said he had met with a Berkshire board member and that the company was "very excited" by the investment. He added he would meet with Buffett later in the month.
Intel's revenue (GAAP) for the three quarters so far this year is $12.8B, $13B, $14.2B. So, if the total for the year will be $54B, that leaves $14B for Q4. Not bad; at the high end of the recent revision.