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. ®

Beginner's guide to SSL certificates

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
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
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.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.