April 18, 2010

Intel is looking chipper after income quadruples as tech spending jumps

News Wire Services April 14th 2010, 4:00 AM

Bloomberg A detailed, internal view of the Advanced Micro Devices Inc. (AMD) Opteron 6000 Series platform.

Intel posted quarterly net income Tuesday that nearly quadrupled to $2.4 billion from a year ago, reflecting an overall bump in companies' technology spending.

Among other things, Intel got a lift from sales of new chips for computer servers - the kind of purchase that many companies delayed during the recession.

Also, Intel's chief financial officer, Stacy Smith, said demand for processors for higher-end laptops was stronger than expected as corporations upgraded their workers' computers. Revenues jumped 44% to $10.3 billion.

The world's biggest chipmaker also forecast sales in the current quarter that topped analysts' predictions, citing growing worldwide demand for computers.

The company leads off two weeks of earnings reports by the nation's largest tech companies, including IBM, Google and Microsoft.

Intel supplies more than 80% of the world's PC processors, making its sales a barometer of computer industry demand.

Intel stock rose nearly 4%, or 90 cents, to $23.67 in after-hours activity. It gained 23 cents in regular trading.

Intel is looking chipper after income quadruples as tech spending jumps

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