Intel reports record revenue, but a drop in income
News Article - Thursday, April 17, 2008 10:37
Filed under: Industry news
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Intel has reported a 12 per cent drop in income for the first quarter of 2008, compared to the same period in 2007.
The revenue results were in line with analysts' predictions, with the company's net income being $1.4 billion (£0.7 million).
Intel is still claiming it had a successful first quarter, as its revenue of $9.7 billion was at record levels.
The company said the results showed that it had a solid ability to cope in uncertain market conditions.
Paul Otellini, chief executive of Intel, said: "We had a very good Q4 in Europe and a very good Q1 in North America... so from a macroeconomic standpoint our two most mature markets are not showing any signs of weakness."
European growth was at eight per cent for the company, with the region now making up 19 per cent of its company's business.
The drop in income was attributed to higher taxes, cheaper NAND memory prices and the purchase of Numonyx.
Intel has recently announced the launch of its Atom brand low-power processors.
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