Intel Posts $2.9 Billion Profit

The chip giant continues its rampage across the tech market. Posting its best quarter ever, Intel racks up a gargantuan $2.9 Billion net profit from an equally impressive $10.8 Billion in revenue. The strong showing is attributed to increased sales in server and laptop demand including Atom processors for netbooks:

• PC Client Group revenue was up 2 percent sequentially, with record mobile microprocessor revenue.
• Data Center Group revenue was up 13 percent sequentially, with record server microprocessor revenue.
• Intel® Atom™ microprocessor and chipset revenue of $413 million, up 16 percent sequentially.
• The average selling price (ASP) for microprocessors was slightly up sequentially.
• Gross margin was 67 percent, 3 percentage points higher than the midpoint of the company’s expected range of 62 to 66 percent.
• R&D plus MG&A spending was $3.25 billion, higher than the company’s prior expectation of approximately $3.1 billion.

In other news, Intel plans to buy the state of South Dakota and carve Intel founder Gordon Moore into Mt. Rushmore, which will also be renamed to be “Mt. Rushmoore”.

Source:
Intel Investor News