SANTA CLARA, Calif.-Chipmaker Intel Corp. announced a solid first quarter with a jump in net income of 25 percent. The news sent the company’s stock up slightly to $23.27 per share.
Intel posted revenues of $9.4 billion for the first quarter, up 17 percent from the same quarter a year ago but down slightly from the fourth quarter. The company’s net income leapt to $2.2 billion, up 25 percent year-over-year and up 1 percent sequentially.
“Led by strong demand for our mobile products, Intel posted double-digit revenue and profit growth vs. a year ago,” said Craig Barrett, the company’s chief executive officer.
Within Intel’s Mobility Group division, the company reported record shipments of application processors for cellular phones, with unit sales nearly doubling from the first quarter of last year. The company said designs from customers including Motorola Inc., PalmOne Inc. and Samsung Electronics Co. Ltd. ramped in volume during the quarter.
