Intel flashes investors with Q2 revenue jump

Smooth sailing

By Ashlee Vance in Chicago • Get more from this author

Posted in Financial News, 13th July 2004 21:07 GMT

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Motherboards and flash memory sales drove Intel to a strong second quarter, as total revenue jumped 18 per cent year-over-year, the company reported today.

Intel reported revenue of $8.05bn, which compares to $6.8bn posted in the same quarter a year ago. Intel's net income also surged, rising 96 per cent to $1.8bn in this year's second quarter. Earnings per share hit 27 cents versus 14 cents last year.

"Intel continued to post strong year-over-year results in the second quarter as our microprocessor business followed seasonal trends and our communications business grew nicely, led by flash memory," said Intel CEO Craig Barrett.

Intel has long been looking for its flash business to show signs of life, so the uptick in sales must provide some relief. Flash memory sales hit $587m in this year's second quarter as compared to $411m last year.

The story was not quite as bright but still not bad for Intel's main business - microprocessors. Intel pulled in $5.75bn in sales compared to $4.8bn last year. Chipset and motherboard revenue hit $1.02bn compared to $1bn last year.

Intel now expects revenue for the third quarter to come in between $8.6bn and $9.6bn. ®