Intel Meets 1Q Expectations Despite PC Slowdown

Tuesday, 16 Apr 2013 05:16 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Intel Corp., the world's largest maker of chips for PCs, is remaining steadfast amid a drastic slowdown in computer sales.

Intel on Tuesday said it's keeping its sales and margin forecasts for this year, even as first-quarter PC sales plunged 14 percent from a year ago, as measured by research firm IDC. The company is helped by rising shipments of chips for servers.

The Santa Clara, Calif., chipmaker also met analyst forecasts for the just-ended quarter. It earned $2 billion, or 40 cents per share, in the January to March period. That was down 27 percent from $2.74 billion, or 53 cents per share, a year ago.

Revenue was $12.6 billion, slightly below the midpoint of Intel's own forecast range. The figure was down 2.3 percent from $12.9 billion a year ago.

Intel shares were flat in extended trading, after the release of the report, after rising 55 cents, or 2.6 percent, to $21.93 in regular trading.

Intel said it shipped 7 percent fewer PC chips compared to a year ago, but 6 percent more server chips.

Intel said it still expects to increase its sales by a few percent this year, and to keep its gross margin at 60 percent, down slightly from its recent three-year average of 63 percent. Analysts polled by FactSet expect revenue to be flat, on average.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved