Intel Bottomed Out in Q1?
On this key IRS date, Intel reports a first-quarter revenue and income loss that has hopefully seen the bottom and the company hopes for a resurgence to normal in the coming season.
Revenue for the IT giant came to $7.1 billion in the first quarter of 2009, a fall of 13% from last year's Q4 and 26% from Q1 2008. Net income came to $647 million or 11 cents per share, down 55% from Q1 2008. Capital investments were less for Intel in Q1 in the order of $1.1 million (mainly because of Clearwire), leading to a 176% gain over Q4 2008.
Revenue from Intel's Atom processors and chipsets was down 27%, at $219 million, compared to Q4 2008.
Business outlook for the coming quarter is "particulary difficult to predict" per Intel, but revenue is expected to be level with that of Q1.
Issue 269/2023
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