Intel Thriving, Reports "Best First Quarter Ever"

Paul Lilly

Intel on Tuesday reported robust earnings for the first quarter of 2010, calling it the best first quarter the chip maker has ever had.

"The investments we’re making in leading edge technology are delivering the most compelling product line-up in our history," said Paul Otellini, Intel president and CEO. "These leadership products combined with growing worldwide demand and continued outstanding execution resulted in Intel's best first quarter ever. Looking forward, we're optimistic about our business as Intel products are designed into a variety of new and exciting segments."

Intel reported first-quarter revenue of $10.3 billion, an increase of 44 percent over one year ago, but that wasn't even the most impressive number. According to Intel, operating income was $3.4 billion, an increase of 433 percent over Q1 2009, while net income was $2.4 billion, a 288 percent jump over last year.

The chip maker also noted that the average selling price for microprocessors was slightly up, though Atom CPU and chipset revenue was down 19 percent to $355 million.

Earnings Release (PDF)

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