Intel posts record sales, upbeat forecast
Chip giant Intel has posted a record $10.8 billion (€8.50 billion) in sales for the second quarter and predicts continued further strong growth in the current quarter.
Its revenue of $10.8 billion was up 4.5% sequentially and 33% year-on-year as it posted a $2.9 billion profit, compared with $445 million in the first quarter and a $400 million loss a year ago.
For the third quarter, Intel expects revenue of $11.2 billion to $12 billion, beating a Bloomberg analysts’ forecast of $10.9 billion.
“Strong demand from corporate customers for our most advanced microprocessors helped Intel achieve the best quarter in the company's 42-year history,” said CEO Paul Otellini.
The tech bellwether said its business was strong across the board and especially in the enterprise segment, with continued demand for PC and server equipment.
Earnings per share of 51 cents were well ahead of the 43 cents a share predicted by analysts, according to Thomson Reuters.