Feeds

Intel beats Q1 expectations, jacks up revenue forecast

Says Thai flood effect now all washed up

The essential guide to IT transformation

Intel crept in over expectations with its Q1 results today, though its silicon business dipped 2 per cent on the previous year's slightly longer quarter.

The chip giant characterized its Q1 performance as a "solid start" to the year, and was bullish enough to jack up its expectations for the second quarter.

Revenues were $12.91bn in the quarter ending March 31, a shade over last year's $12.857bn. Net income came in at $2.7bn, compared to last year's $3.16bn. The firm pointed out that this year's Q1 was a week shorter than last year.

This landed the firm with earnings per share of $0.53 diluted, or $0.56 non-GAAP. Analysts had been expecting EPS of $0.50 on revenues of $12.84bn.

In a statement, CEO Paul Otellini described the numbers as "a solid start" to what should be another growth year. The firm said it expected second quarter revenues to come in at $13.6bn, give or take half a billion, compared to the $13.43bn Wall St currently expects.

All the firm's silicon business units showed slight dips on the previous year, as Intel continued to suffer from the continuing hit from last year's Thai floods and the knock-on effect on industry inventory - not to mention that missing week.

Nevertheless, in a statement Intel said PC sales had played out of as expected, and it did not expect any further hit from the disk drive shortage in future.

Otellini said the second quarter should benefit from "the first Intel-based smart phones in the market" as well as high volumes of its 22nm tri-gate tech and "the ramp of our best server product ever". ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.