Intel posts record first-quarter results

17 Apr 2008

Intel has announced revenue intake for the first quarter of 2008 of US$9.7bn, making it a record first quarter for the company.

Revenue was up 12pc year-over-year, operating income was US$2.1bn, up 23pc year-over-year, net income was US$1.4bn, down 12pc year-over-year and earnings per share of 25c, down 11pc year-over-year.

“Our first quarter results demonstrate a strengthening core business and a solid global market environment,” said Paul Otellini, Intel president and CEO. “We saw healthy demand for our leading-edge processors and chipsets across all segments.

“Looking forward, we remain optimistic about our growth opportunities as we continue to reap the benefits of our 45nm technology leadership.”

Microprocessor and chipset business came in as expected, Intel said, although NAND revenue was flat as price declines offset unit shipment growth.

During the quarter, the company used US$2.5bn to repurchase 122 million shares of its common stock.

The company predicted revenues of between US$9bn and US$9.6bn for Q208.

By Niall Byrne