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If you're to take Intel at its word (and earnings report), then forget any talk of the PC industry continuing to decline. According to CEO Paul Otellini, the immediate future looks bright, especially for the No. 1 chip maker.
"We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns," Otellini said in a statement. "Intel has adapted well to the current economic environment and we're benefiting from disciplined execution and agility. We're delivering a product portfolio that meets the needs of the changing market, spanning affordable computing to high-performance, energy-efficient computing."
Backing up his claims, Intel reported a first quarter profit of $647 million, or 11 cents per share, on revenue of $7.1 billion. Wall Street was expecting earnings of 2 cents on revenue of $6.98 billion.
But does Intel's success translate to a recovery in the PC market as a whole? While Intel has been riding high on sales of its Atom processors and managed to beat expectations for Q1, the company wasn't as forthcoming when it came to forecasting Q2.
Image Credit: Intel