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Intel has released its Q2 financial results, comfortably beating analyst expectations while also forecasting a strong Q3.
The chip maker giant reported that net income in the second quarter had increased to $2.9 billion which represents an astounding bounce-back after company posted a loss of $398 million in the financial crisis impacted period a year before.
“Strong demand from corporate customers for our most advanced microprocessors helped Intel achieve the best quarter in the company’s 42-year history,” said Intel boss Paul Otellini.
Intel had been viewed as the litmus of a historic crash in global IT related spending as the financial crisis unfolded but the company was also among the first to benefit from the upswing as consumer demand in mobile computing devices in particular bounced back to such a degree to generate unprecedented demand for the chip maker’s products.
The future also looks good for Intel and the company’s major partners as firms are now faced with an aging inventory of corporate desktops. Dell had earlier claimed there were signs of business engaging in a fresh hardware cycle largely as a result of Microsoft’s Windows 7 operating system.
Intel is pinning hopes over the next year on an expansion into the the burgeoning mobile market with a new range of low powered CPUs. The company had been seen to have missed the boat on ultra low-power products, leaving ARM CPUs to become dominant in the category.
