Intel (INTC) Beats Street on Top-and-Bottom in Q1, Guides for Strong Q2

April 19, 2011 4:23 PM EDT
Intel (Nasdaq: INTC) is trading higher following a strong first quarter report from the chip giant.

Net income in the quarter was $3.3 billion, or $0.56 per share, from $2.47 billion reported in the same period last year. Excluding certain items, EPS was $0.59.

Revenues for Intel were $12.9 billion, a 25 percent gain from $11.46 billion reported in Q110.

Overall, the consensus was looking for revs of $11.6 billion and EPS of $0.46.

Looking ahead, Intel sees second-quarter sales of $12.8 billion, +/- $500 million. The consensus is for sales of $11.85 billion.

McAfee and Infineon Wireless Solutions, acquisitions which Intel closed in the quarter, contributed $496 million to revs.

“The first-quarter revenue was an all-time record for Intel fueled by double digit annual revenue growth in every major product segment and across all geographies,” said Paul Otellini, Intel president and CEO.

Intel shares are up 5.6 percent in after-hours action.

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