Feeds

Chipzilla counters Wall Street doomsayers

Holding steady

Beginner's guide to SSL certificates

Updated Intel reassured jittery market watchers by posting better-than-expected first-quarter revenue and forecasting sales for the current period that could exceed analyst expectations. The report, which contrasted sharply with preliminary results posted last week by AMD, sent shares up 8 percent in after-hours trading.

Intel sales were $9.67bn for the quarter ending March 29, a 9.3 per cent increase over revenue of $8.85bn in the comparable period last year. Analysts on average had forecast sales of $9.63bn. Intel forecast sales of $9bn to $9.6bn in the current quarter, compared with an estimate of $9.23bn.

The results are a welcome relief from the steady stream of doom and gloom that has flowed out of Wall Street over the past several months. Last week, AMD laid out plans to cut 10 percent of its workforce after reporting a decline of about 15 per cent in revenue. Some analysts worried the AMD results, combined with predictions of a recession in the US, foretold a coming decline in the entire IT industry.

Intel saw strong sales from European customers in the fourth quarter of last year and reported a 17-percent increase in revenue from customers in the Americas this period.

"I'd look at the integral six months and say that from an economic standpoint, the two most mature of our markets are not showing any signs of weakness," CEO Paul Otellini said on a conference call.

Later when asked if he saw any troubling signs related to demand in either the Americas, Europe or Asia, Otellini said no.

Considering the slump reported by AMD, it's reasonable to infer Intel has grabbed market share from its smaller competitor. Otellini said he'd let analysts come to their own conclusions about that. But he did say the success of its MP Caneland platform fueled record sales for its server products. "I suspect there is some good news in share gain in that number set," he said.

First-quarter net income fell 11.8 percent to $1.44bn, as Intel shelled out $329m in restructuring and asset impairment charges. The profit translated to 25 cents a share, matching analyst expectations.

Intel shares rose 8 percent to $22.61 in after-hours trading following release of the results. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
NATO declares WAR on Google Glass, mounts attack alongside MPAA
Yes, the National Association of Theater Owners is quite upset
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.