Intel profit soars, raises guidance

Intel has boosted its Q1 profit and raised its full-year outlook, a result of demand for PC and server chips.
The tech bellwether posted earnings of $2.4 billion (€1.77 billion), up nearly fourfold from $629 million a year ago, and revenue of $10.3 billion, up 44%, the company announced Tuesday
It said Q2 revenue would be $10.2 billion, plus or minus $400 million, ahead of a forecast $9.72 billion, according to a Bloomberg analysts’ survey
Sequentially, sales were mostly flat or lower, Intel said, because of the strong demand in Q4 as the economy recovered.
However, year-on-year PC and mobile chip sales were up 43% and server chip revenue rose 48%.
It said gross margin for the coming quarter would be 64%, up from 61% previously forecast, and ahead of the 60.4% expected by analysts.
Intel’s stock price rose 3.95% in after-hours trading on Nasdaq to $23.67.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.