Intel's First-Quarter Profit Jumps 25 Pct.
Tuesday April 19, 5:34 pm ET
By Matthew Fordahl, AP Technology Writer
Intel's First-Quarter Profit Jumps 25 Percent on Demand for Microprocessors
biz.yahoo.com
SAN JOSE, Calif. (AP) -- Intel Corp.'s first-quarter profit jumped 25 percent Tuesday, driven by strong demand for microprocessors used in notebook computers and lower-than-expected costs associated with manufacturing and new technologies.
The world's largest chip maker also said it expects second-quarter sales to be between $8.6 billion and $9.2 billion, which would be in line with Wall Street expectations.
For the three months ended April 2, Intel earned $2.15 billion, or 34 cents per share, compared with $1.73 billion, or 26 cents per share, in the same period last year. The 2004 results included a settlement charge that shaved earnings by 1.7 cents per share.
First-quarter sales increased 17 percent, to $9.43 billion from $8.09 billion in 2004. The first quarter of this year also included an extra week of business.
The results easily beat Wall Street expectations. Analysts were expecting Intel to earn 31 cents per share on sales of $9.31 billion, according to a survey by Thomson Financial.
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