Intel Reports First-Quarter Results
* First-Quarter Revenue $7.1 Billion, Down 13 Percent Sequentially
* Gross Margin 46 Percent, Down 7 Points Sequentially
* Operating Income $670 Million, Down 56 Percent Sequentially
* Quarterly Net Income $647 Million; EPS 11 Cents
SANTA CLARA, Calif. – Intel Corporation today reported first-quarter revenue of $7.1 billion, operating income of $670 million, net income of $647 million and earnings per share (EPS) of 11 cents.
“We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns,” said Paul Otellini, Intel president and CEO. “Intel has adapted well to the current economic environment and we’re benefiting from disciplined execution and agility. We’re delivering a product portfolio that meets the needs of the changing market, spanning affordable computing to high-performance, energy-efficient computing.”
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