Intel posts record revenue for Q1 2008

Silicon chip giant Intel has posted a record quarterly revenue of $9.7 billion for the first quarter of 2008, a 9% increase from last year.

The revenue represents a net income of $1.4 billion and earnings per share (EPS) of 25 cents.

Paul Otellini, Intel president and CEO said: “Our first quarter results demonstrate a strengthening core business and a solid global market environment. We saw healthy demand for our leading-edge processors and chipsets across all segments. Looking forward, we remain optimistic about our growth opportunities as we continue to reap the benefits of our 45nm technology leadership.”

These impressive results come despite Intel’s recent restructuring and asset impairment charges, which came to $329 million. The company believe these charges lowered their EPS by 4 cents.

Intel also report using $2.5 billion to repurchase 122 million shares of common stock.

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