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Intel reports record revenue growth of 25 per cent for Q1

Expects 2011 to be a good year
Wed Apr 20 2011, 11:50

CHIP GIANT Intel has posted its financial results for the first quarter of 2011, revealing a record revenue increase of 25 per cent.

Intel took in $12.9 billion (£7.9 billion) in non-GAAP revenue, up $2.6 billion (£1.6 billion) or 25 per cent from the same period in 2010. This was also a 12 per cent increase in revenue from the previous quarter.

Operating income was up $862 million (£527 million), a similar 25 per cent, to $4.3 billion (£2.6 billion), while net income was up $830 million (£508 million), a whopping 37 per cent, to $3.3 billion (£2 billion).

Earnings per share were up 37 per cent from $0.43 (£0.26) to $0.59 (£0.36).

Revenue for the company's PC client group was up 17 per cent, while its data centre group saw revenue jump by 32 per cent. Other Intel architecture revenue was up 70 per cent, while Atom chip revenue was up 4 per cent to $370 million (£226 million).

Chipzilla brought in roughly $4 billion (£2.5 billion) in cash from operatiors, paid out $994 million (£608 million) in cash dividends and spent a further $4 billion (£2.5 billion) to repurchase 189 million shares.

Spending on R&D and mergers and acquisitions was $3.7 billion (£2.3 billion), somewhat higher than Intel expected, but this had little impact on its successful quarter.

"The first-quarter revenue was an all-time record for Intel fueled by double digit annual revenue growth in every major product segment and across all geographies," said Paul Otellini, president and CEO of Intel.

Intel expects to bring in $12.8 billion (£7.8 billion), give or take $500 million (£306 million), in the second quarter of 2011, while the full year forecast will see the company posting revenue growth of more than 20 per cent over 2010. µ


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