Intel Posted a Profit of $3.2 Billion, Shatters EstimationsCategory: General News
Posted: April 20, 2011 12:49PM
Intel has done it again. It seems that every quarter the company posts new record numbers and this time it is no different. Intel has just posted a $3.2 billion profit for the first quarter of this year, an increase of 29% compared to last year. Overall revenue was at $12.2 billion, an increase of 23%. Earnings were listed at 56 cents a share, something the analysts predicted would only be at 46 cents. Intel definitely crushed the estimates by all the analysts, especially since last year's first quarter profit was at $2.4 billion and revenue at $10.3 billion. Intel's $12.2 billion revenue for the first quarter is a new record for the company and shows just how popular the chip giant really is. With these results, Intel expects an annual revenue growth of 20% which is pretty impressive when you consider everything.