Intel profits down for Q1 2012
Quarterly net profits at $2.7bn but still beats analyst expectations
Intel has posted $2.7 billion net profit for Q1 2012, marking a drop from to $3.16 billion in the same quarter least year, but still beating analyst expectations.
Revenue was $12.9 billion, compared to the $12.85 billion revenue of a year ago, with the company reporting a slowdown in PC and server chip sales.
Revenue for the PC client group, which sells PC, tablet and smartphone microprocessors, fell to $8.45 billion from $8.62 billion. Revenue for the Data Center Group, which sells server equipment, was $2.45 billion, flat compared to the $2.46 billion a year ago. Software revenue grew to $571 million, compared to $240 million a year ago.
“The first quarter was a solid start to what’s expected to be another growth year for Intel,” said Paul Otellini, Intel president and CEO. “In the second quarter we’ll see the first Intel-based smartphones in the market, ship products based on 22nm tri-gate technology in high volume, and accelerate the ramp of our best server product ever, providing a tremendous foundation for growth in 2012 and beyond.”