Intel reports “best ever” financial quarter

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Intel reports “best ever” financial quarter

Warwick Ashford

Chipmaker Intel has reported its "best ever" quarter with second-quarter revenue of $10.8bn (£7.1bn), up 34% year-on-year.

The company reported operating income of $4bn, net income of $2.9bn and earnings per share of 51 cents, up 4bn, 3.3bn and 58 cents respectively compared with the year before.

"Strong demand from corporate customers for our most advanced microprocessors helped Intel achieve the best quarter in the company's 42-year history," said Paul Otellini, Intel president and chief executive officer.

He also ascribed Intel's good results to the shift to working on the internet and using services based in remote datacentres where chip sales were up 170% compared with 2009.

"The PC and server segments are healthy and the demand for leading-edge technology will continue to increase for the foreseeable future," said Otellini.

Intel's record results have raised hopes that businesses have begun a hardware and software refresh, signalling recovery from the world financial crisis, analysts said.

The results, which boosted Intel shares by more than 8% in extended trading, are expected to give a lift to the whole technology sector.

Intel is expecting another record three months, with a revenue forecast for the third quarter of $11.6bn, plus or minus $400m.


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