Saturday, July 23, 2011

Intel reports fifth consecutive quarter of record revenues

Intel has reported its fifth consecutive quarter of record revenues, with double-digit revenue growth across all business segments.

On a non-GAAP basis, revenues were US$13.1 billion, operating income was US$4.2 billion, net income was US$3.2 billion, and EPS was US$0.59. On a GAAP basis, the company reported second-quarter revenues of US$13 billion, operating income of US$3.9 billion, net income of US$3 billion, and EPS of US$0.54.

The company generated approximately US$4 billion in cash from operations, paid cash dividends of US$961 million, and used US$2 billion to repurchase 93 million shares of common stock.

"We achieved a significant new milestone in the second quarter, surpassing US$13 billion in revenues for the first time," said Paul Otellini, Intel president and CEO. "Strong corporate demand for our most advanced technology, the surge of mobile devices and Internet traffic fueling data center growth, and the rapid rise of computing in emerging markets drove record results. Intel's 23% revenue growth in the first half and our increasing confidence in the second half of 2011 position us to grow annual revenues in the mid-20% range."

In the second quarter, Intel's PC Client Group revenues up 11% on year, while Data Center Group revenues were up 15% on year, Other Intel architecture group revenues were up 84% on year, including Embedded and Communications Group revenues, which is up 25% on year.

Intel Atom microprocessor and chipset revenues reached US$352 million, down 15% on-year.

The acquisitions of McAfee and Infineon Wireless Solutions (now Intel Mobile Communications) contributed revenues of US$1 billion in their first full-quarter of results with gross margin reached 61%, consistent with the company's expectation.

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