Intel confounded some nervous concerns about geographic and technology trends with record revenue and earnings. For 2011, Intel's revenue of $54 billion was up 24 percent against 2010 and net income was up 13 percent to $12.9 billion.
The disturbances in the PC market arising from interrupted hard drive shipments out of flood-hit Thailand will have only started to show in the latter part of the fourth quarter. Manufacturers and distributors were running down inventories and that was enough to cope with depressed demand for PCs.
Europe in particular suffered from the uncertainties arising from the Eurozone debt crisis and IDC reckoned that PC shipments to Europe were down 6.5 percent.
Intel's PC client group bucked this trend and reported revenue up 17 percent to $9 billion in the fourth quarter and 17 percent to $35.4 billion for the year.
Data centre revenue slowed to eight percent to $2.7 billion in the fourth quarter but was still up 17 percent to $10.1 billion for the year as a whole.
The bleak spot was revenue from the Atom microprocessor and chipset. Fourth quarter revenue was down 57 percent to just $167 million leaving the year's figure down by a quarter at $1.2 billion.