This article is more than 1 year old
Intel restates Q1 earnings. Upwards
Tax burden reduced
Intel increased its previously reported Q1 FY2005 earnings this week, thanks to a reduction in the quarter's tax bill.
According to filings made with the US Securities and Exchange Commission, Intel's Q1 tax bill was $24m lower than it had expected. The upshot: Intel raised its earnings by a cent a share, from 34 cents to 35 cents. Q1 FY2004's earnings were 26 cents a share.
Last month, Intel said Q1 sales had totalled $9.4bn, up 17 per cent on the year-ago quarter but down two per cent on Q4 FY2004. Net income for the quarter came to $2.2bn, it said, up 25 per cent year on year and up a single percentage point sequentially.
Intel expects second quarter revenue to come in between $8.6bn and $9.2bn. ®
Related stories
AMD steals Q1 market share from Intel
TSMC, UMC April sales slump
Intel: 65nm output to surpass 90nm production Q3 06
World chip sales continue to rise
Intel snatches mobile graphics lead from ATI
World chip glut halved in Q1
Intel rides mobile express to strong Q1
Memory woes color AMD's Q1 red
Biting the hand that feeds IT
