Intel profit and revenue soar in Q1 | business | Hindustan Times
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Intel profit and revenue soar in Q1

business Updated: Apr 14, 2010 17:39 IST

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Chip maker Intel has reported a nearly four-fold growth in net income at $2.44 billion for the three months ended March 2010, on the back of rising demand for personal computers and server chips amid an improving technology market.

In the year-ago period, the company had a net income of $629 million, Intel said in a statement.

Revenue rose by 44 per cent from the year-ago quarter to $10.29 billion in the January to March period of 2010.

"The investments we're 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 outstanding execution resulted in Intel's best first quarter ever," Intel president and CEO Paul Otellini said.

In terms of geographical locations, Japan and the Asia-Pacific region have posted handsome revenue growth in the quarter under review. Intel's revenue in Japan surged 99.8 per cent to $1.10 billion while that in the Asia-Pacific region rose 61 per cent to $5.88 billion in the first quarter of 2010.

Further, the chip maker's revenue in the US went up 26 per cent to $1.9 billion and in the European region it edged up 10 per cent to $1.4 billion in the January-March quarter.

Revenue for Intel's PC segment rose 43 per cent from a year earlier, but was flat compared to the fourth quarter.

The company said improved sales increased revenues from Intel's data center group, which includes products for servers, by 48 per cent compared to the first quarter of 2009.

For the second quarter, the company is expecting a revenue in the range of $9.8 billion to $10.2 billion.