Intel announced their fourth-quarter 2007 financial results today; the company reported revenue of $10.7 billion, operating income of $3 billion and a net income of $2.3 billion. For 2007, operating income grew 45%, due to "the company’s ongoing efficiency programs."
Paul Otellini, president and CEO of Intel, said, "2007 was a breakthrough year for innovation at Intel. We realized the benefits of our investments in new products and our efforts to drive efficiencies.
Our customers embraced the Intel Core microarchitecture, extending our competitive leadership and driving a significant gain in operating results. We enter 2008 with the best combination of products, silicon technology and manufacturing leadership in our history."
In related news, Yahoo! is reporting that despite Intel’s rather high Q4 income earnings, the company’s stock took a hefty plunge, in part of the struggling U.S. economy. Intel shares plunged 14% after a report on Tuesday. Still with high hopes, Stacy Smith, CFO of Intel, remained pleased with the results.
"The estimates may have gotten a little ahead of where we are, but I’m very pleased with the progress the company made over the course of the quarter. We start 2008 exceptionally well positioned."
