Intel Rides Global Sales to Strong Q1

Profit jumps 9% as chip-maker surprises Wall Street
By Jim O'Neill,  Newser User
Posted Apr 16, 2008 6:50 AM CDT
The Intel exhibit at the Consumer Electronics Show at the Las Vegas Convention Center is seen Wednesday, Jan. 9, 2008.   (AP Photo/Paul Sakuma)
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(Newser) – Global demand for computer chips helped Intel power to a 9% first-quarter revenue gain, beating analysts' estimates and sending a message that while US sales may be slumping, the world’s largest chip maker’s still got game. Intel stock rose 7.7% in after hours trading, the New York Times reports, as the news allayed worries that computer sales are slowing.

Net income was off 12% to $1.4 billion, or 25 cents a share, from a year ago, primarily related to costs of a business spinoff. Revenue increased to $9.67 billion from $8.85 billion. Intel’s new nanometer manufacturing process has helped it dominate foundering rival AMD, which has struggled through delays in new product launches and lost customers to Intel.