Chipmaker Intel has posted first quarter revenue of $12.9
billion, up from $12.85 billion in the year-ago period.
GAAP net income in the first quarter was $2.74 billion,
down from $3.16 billion in the year-ago period.
The first quarter was a solid start to what’s expected
to be another growth year for Intel. In the second quarter we’ll see the first
Intel-based smartphones in the market, ship products based on 22nm tri-gate
technology in high volume, and accelerate the ramp of our best server product
ever, providing a tremendous foundation for growth in 2012 and beyond,” said
Paul Otellini, Intel president and CEO.
Intel said revenue in the current quarter would be $13.6
billion, plus or minus $500 million.
Shaky economies in Europe and the United States, a growing
consumer preference for tablets, and a recent shortage of hard drives due to
flooding in Thailand have taken a toll on the PC industry.
But demand in China and other emerging economies has
helped sustain PC growth, and Intel’s server business has been a winner from
the buildout of servers behind the Internet and data consumed on smartphones.
Intel said non-GAAP gross margins in the second quarter
would be between 63 percent, plus or minus 2 percentage points.
The company generated approximately $3.0 billion in cash
from operations, paid dividends of $1.0 billion and used $1.5 billion to
repurchase stock.
