Intel hit the high end of its own expectations for first-quarter revenue on strong sales of mobile processors, the company said Tuesday.
Revenue for the period ending April 2 was US$9.4 billion, up 17 percent from last year's first-quarter revenue of US$8.1 billion and ahead of the target that Intel set for itself during its mid-quarter update. In March, the Santa Clara, California, company predicted it would take in between US$9.2 billion and US$9.4 billion during the quarter, and analysts polled by Thomson First Call settled on the midpoint of that range, US$9.3 billion, when assembling their estimates.
Net income was US$2.2 billion, up 25 percent from last year's first-quarter net income of US$1.7 billion. That works out to earnings per share of US$0.34, well ahead of analyst estimates of US$0.31 for first-quarter earnings per share.
While growth in overall processor shipments was flat during the quarter, as compared to the fourth quarter, mobile processor shipments set a record, Intel said. In January the company launched Sonoma, the second generation of its Centrino notebook technology, and promised to quickly shift its manufacturing resources to the new mobile chips and chipsets.
For the second quarter, Intel expects revenue to fall between US$8.6 billion and US$9.2 billion. The second quarter of the calendar year is generally the worst quarter for chip and PC companies, and the first quarter is also considered a seasonally slow quarter.
Intel executives will hold a conference call later on Tuesday to discuss the company's results.