24/Apr/2014 - Last News Update: 22:00

Intel sees record first quarter

Category: Business

Published: 13th Apr 2010 22:34:01

US chip maker Intel has seen its profit in the first quarter nearly quadruple, lifted by sales of new chips for computer servers.

Net income for the three months to March came in at $2.44bn (£1.59bn) - a record for the first quarter - compared with $629m a year earlier.

Sales were up 44% to $10.3bn as the personal computer market continued its recovery from the global recession.

Chief executive Paul Otellini said he was "optimistic" about the year ahead.

The group forecast sales of $10.2bn in the second quarter.

Intel is the first major technology company to report its results this year.

Its earnings, which are closely watched by investors as a bellwether for the technology industry, came in ahead of analysts' expectations.

"It appears the company has successfully navigated through the recession and is clearly emerging stronger from the downturn," said Bill Kreher, analyst at Edward Jones.

"Not only were we pleased with the numbers, we were pleased with the company's increased confidence for all of 2010."

Source:
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BBC News, 2010. Intel sees record first quarter [Online] (Updated 13th Apr 2010)
Available at: http://www.ukwirednews.com/news/51585/Intel-sees-record-first-quarter [Accessed 24th Apr 2014]

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