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.
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