Well I was right on this one -- I was expecting Intel Corp. (NASDAQ: INTC) to make $0.22 a share and -- after a reversal of previously accrued taxes which boosted earnings by 5 cents a share -- Intel met analysts' expectations.
While Brian White is providing the details of the conference call, here are some of the highlights. Intel first-quarter profit rose 19% and revenue slid at a slower pace than last year. Specifically, Intel's net income increased to $1.61 billion, or 27 cents a share, from $1.36 billion, or 23 cents, a year earlier. Revenue slipped 1% to $8.85 billion, following a 9% drop last year.
Intel beat its gross margin forecast -- it made 50.1% and forecast 49%. And it predicts a 48% margin in the future -- an uncomfortable drop.
But investors seem to like the results. Shares were up 1.4% during trading today and rose another 2% after-hours.
Peter Cohan is President of Peter S. Cohan & Associates, a management consulting and venture capital firm. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in Intel.
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