Intel hails 'best Q1 ever'

Vendor sees a 44 per cent increase in first quarter turnover compared to Q1 2009

Paul Otellini: Looking forward Intel is optimistic about the business

Intel has reported record first quarter revenue for its 2010 financials with net profit up 288 per cent on Q1 2009.

The microprocessor giant posted revenue of $10.3bn for the first quarter, a three per cent drop on Q4 2009, but a 44 per cent increase on Q1 2009. Net profit was $2.4bn for the quarter.

Drilling down the vendor said PC Client Group revenue was ‘flat’ but with ‘record’ mobile microprocessor revenue. Datacentre Group revenue was down eight per cent and other Intel Architecture group revenue was down nine per cent. Average Selling Prices (ASPs) were also higher than expected.

Paul Otellini, chief executive of Intel, said: “The investments we are making in leading edge technology are delivering the most compelling product line-up in our history. These leadership products combined with growing worldwide demand and continued execution resulted in Intel’s best first quarter ever.

“Looking forward we are optimistic about our business as Intel products are designed into a variety of new and exciting segments,” he added.

For the second quarter, the vendor predicts revenue of $10.2bn with margin expected to be about around the 64 per cent mark.