Intel (INTC) late Thursday reported a 48% jump in fourth-quarter earnings, thanks to strong demand for server processors.
The chip giant said net income was to $3.39 billion, or 59 cents per share, up from $2.28 billion, or 40 cents per share, in the same period a year earlier. Analysts had expected 53 cents per share.
Sales rose 8.4% to $11.5 billion, topping expectations of $11.37 billion.
"2010 was the best year in Intel's history. We believe that 2011 will be even better," Paul Otellini, Intel president and CEO, said in a written statement.
Intel forecast gross margins of 64% for the current quarter, which would be down slightly from the 67.5% Intel reported for the fourth quarter. Gross margins are the percentage of sales remaining after deducting production costs. The company also forecast revenue of between $11.1 billion and $11.9 billion in the current quarter. Analysts are looking for $10.74 billion in revenue.
Shares of Intel rose 70 cents, or 3.3%, to $21.99 in trading Thursday.
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