Chip giant reports yearly net income growth of 288 per cent

Record first quarter for Intel

Intel has released record-breaking results for the first quarter, with net revenue of $2.4 billion representing a 288 per cent increase over Q1 2009, and overall revenue up 44 per cent to $10.3 billion.

Although earnings were down compared to the Christmas quarter of 2009, the vendor was able to report massive year-on-year gains, with earnings per share up 32 cents.

“The investments we’re making in leading edge technology are delivering the most compelling product line-up in our history,” said Intel’s president and CEO, Paul Otellini.

“These leadership products combined with growing worldwide demand and continued outstanding execution resulted in Intel’s best first quarter ever. Looking forward, we’re optimistic about our business as Intel products are designed into a variety of new and exciting segments.”

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