Reuters: Global Markets: Intel quarterly revenue beats expectations

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Intel quarterly revenue beats expectations Apr 17th 2012, 20:09 Tweet Share this Email Print Related News Goldman beats Street but dials back risk 11:52am EDT Analysis & Opinion Wall Street hangs in limbo despite market rebound So what's Apple really going to do with its cash? Related Topics Hot Stocks » Asian Markets » An Intel logo is seen at the company's offices in Petah Tikva, near Tel Aviv October 24, 2011. Credit: Reuters/Nir Elias By Noel Randewich Tue Apr 17, 2012 4:29pm EDT (Reuters) - Top chipmaker Intel Corp forecast revenue above expectations, as demand for personal computers remained resilient in the face of consumers' growing preference for tablets and other mobile gadgets. The long-time technology bellwether said revenue in the current quarter would be $13.6 billion, plus or minus $500 million. Analysts on average had expected $13.45 billion, according to Thomson Reuters I/B/E/S. Shaky economies in Europe and the United States, a growing consumer preference for tablets, and a recent shortage of hard drives due to flooding in Thailand have taken a toll on the PC industry. But demand in China and other emerging economies has helped sustain PC growth, and Intel's server business has been a winner from the buildout of servers behind the Internet and data consumed on smartphones. The world's leading chipmaker said revenue in the first quarter was $12.9 billion, up from $12.85 billion in the year-ago period and a bit higher than the $12.85 billion expected. GAAP net income in the first quarter was $2.74 billion, down from $3.16 billion in the year-ago period. GAAP earnings per share were 53 cents, better than the 50 cents expected. Intel said non-GAAP gross margins in the second quarter would be between 63 percent, plus or minus 2 percentage points. One analyst who was not authorized to speak to the press said that margin guidance was a little light. Despite the relatively upbeat outlook, shares of Intel fell 2.81 percent in extended trade after closing up 0.23 percent at $28.47 on Nasdaq. (Reporting By Noel Randewich; Editing by Richard Chang) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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