Corporate Spending Boosts Intel's First Quarter RevenuesBy eWEEK Staff | Print
Technology bellwether Intel saw a record first quarter with higher revenues and profits driven by strong consumer demand for laptops and also signs the long-awaited technology refresh in businesses.
Intel’s financial numbers soared in a first quarter that saw the chip maker aggressively roll out products and corporate spending begin to pick up.
Intel, which owns an 80 percent share of the worldwide microprocessor market, generated $10.3 billion in the first three months of 2010, a 44 percent jump over the same period last year, when the global recession was in full swing, company officials reported April 13. Profits came in at $2.4 billion, a whopping 288 percent over the first quarter in 2009.
In a conference call with analysts and reporters after the numbers were released, Intel CEO Paul Otellini said the change over a year was significant. The first three months of 2009 saw the economy hitting its depths, Otellini said. Now, he said, "the industry is nearly fully recovered."