Intel said its first-quarter profit declined 12 percent, hurt by charges, but sales grew amid healthy global demand for its processors and...
SANTA CLARA, Calif — Intel said its first-quarter profit declined 12 percent, hurt by charges, but sales grew amid healthy global demand for its processors and chipsets.
The world’s biggest semiconductor maker today said it earned $1.44 billion, or 25 cents a share, down from $1.64 billion, or 28 cents a share, a year ago. Restructuring and asset impairment charges lowered the latest quarter’s earnings by 4 cents.
Revenue jumped 9 percent to $9.67 billion, beating analysts’ estimates.
Analysts polled by Thomson Financial were expecting, on average, a profit of 25 cents a share on sales of $9.63 billion.
Most Read Business Stories
- REI picks new satellite office ‘surrounded by trail networks’
- Judge upholds Seattle eviction regulations, rebuffing landlords' lawsuit
- Fry's Electronics executive accused of embezzling $65 million
- Funky electronics chain Fry's is no more
- Alaska Airlines ordered to pay $3.2M to family of woman who died after escalator fall
Santa Clara, Calif.-based Intel expects second-quarter sales of $9 billion to $9.6 billion. Analysts are predicting $9.23 billion.
Intel shares rose nearly 6 percent in after-hours trading.