Intel reports record quarterly financial figures
Intel is reporting record figures in a financial quarter that saw growth in every one of its business segments.The chipmaker said that revenues topped out at $13.1bn, a 22 per cent increase over the previous year's quarter. Additionally, Intel said that each of its segments saw greater than 10 per cent growth. We achieved a significant new milestone in the second quarter, surpassing $13bn in revenue for the first time," said Intel president and chief executive Paul Otellini.
"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 reported that net income for the quarter was $3bn, up two per cent over the same quarter a year ago. Earnings per share were up six per cent over the same period in 2010. The company said that two of its largest acquisitions, security giant McAfee and wireless operations from Infineon, contributed some $1bn in revenues over the quarter.
Intel further added to its arsenal this week when it agreed to acquire ethernet hardware specialist Fulcrum Microsystems. Intel's results come one day after another technology giant reported its own record financial quarter. Apple credited strong growth in its iPhone and Mac hardware units with helping to drive revenues of $28.6bn.
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