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.