Intel has reported a 44-percent jump in revenue and a 288-percent rise in net income for the first quarter, adding up to record results in these areas, according to chief executive Paul Otellini.
The Santa Clara-based chipmaker said on Tuesday that it had $10.3bn (£6.7bn) in revenue for the first quarter of 2010, compared with $7.14bn the previous year. Over the same period, operating income rose by 433 percent to $3.4bn from $647m a year before, while net income was up 288 percent to $2.4bn, from $629m.
In an earnings conference call, Otellini said that Intel had focused on expanding its Nehalem architecture, getting its 32nm (nanometre) process technology ready, and in designing alternatives and derivatives of its Atom processor for different market segments.
"As a result of that focus, we started this year with the best product line-up we've ever had, with leadership in all segments and categories," said Otellini. "Demand for these new products has been incredible, and as a result, Intel achieved a record first quarter in revenue and in operating income."
Demand for Intel's higher-end PC products had been strong, helping to improve margins and profitability, said Otellini. He added that demand notebooks had been 'excellent'.
"A year ago at this time, the industry was in the midst of a sharp correction, with many expecting it to continue for an extended period," said Otellini. "But we saw signals of a bottoming then, and now a year later the industry is nearly fully recovered."
Intel is excited about the prospects for its Sandy Bridge architecture, which is due to go into general production before the end of 2010, he added. Volume sampling for Sandy Bridge began in the first quarter of 2010, when Intel shipped thousands of samples to a number of customers, he said.