Intel Corporation has reported quarterly revenue of $12.9 billion (around £8.1 billion) and net income of $2.7 billion. Revenue was down 7% from the previous quarter (and the same as Q1 2011) but was better than expectations.
Paul Otellini, Intel president and CEO, said “The first quarter was a solid start to what’s expected to be another growth year for Intel. In the second quarter we’ll see the first Intel-based smartphones in the market, ship products based on 22nm tri-gate technology in high volume, and accelerate the ramp of our best server product ever, providing a tremendous foundation for growth in 2012 and beyond.”
[Intel Chief Financial Officer commentary (pdf)]