The world’s largest chipmaker did it again: Beating Wall Street predictions and delivering some good news for industry-watchers.
Intel reported its first-quarter earnings today, and despite expectations of a traditionally lukewarm quarter in the wake of holiday and year-end buying, the company posted blowout numbers that could signal growing spending on IT projects. Datamation takes a look at the results.
Intel (NASDAQ: INTC) wasn’t expected to post any major surprises for its first quarter earnings, but with business users in the mood to start buying again, Intel did just that. The chip giant blew past projections thanks to strength in the mobile market and the new processors it introduced in January.
As a result, for the quarter ended March 31, Intel reported revenue of $10.3 billion, well above Wall Street analyst’s estimate of $9.83 billion. Margins were a healthy 63.4 percent and net income totaled $2.4 billion, which translated to earnings per share (EPS) of $0.43. A consensus survey of analysts by Thomson Reuters expected EPS of $0.38.
Intel’s results are likely to be good news for the rest of the technology industry, which has been looking for signs of renewed spending by IT buyers, who in turn have begun mapping out plans and making purchasing decisions around refreshing aging systems and embracing hot new areas of technology.