Intel yesterday posted a profit of $936m, or 14 cents a share, for its first quarter of 2002, up from $485m, or seven cents a share, a year earlier.
The chip giant said that, while customer spending in major markets remained a concern, the company expects to see some improvement in the second half of the year.
Chief financial officer Andy Bryant explained that sales of PCs and server chips came in a little better than expected and that communications chips dropped more than was predicted.
"Results from the Intel architecture business were a little better than seasonally typical," he said in a conference call. "There was significant year-to-year growth in that part of the business."
Bryant maintained that the company's gross margins are likely to improve, coming in at around 53 per cent, which is higher than previous expectations of 51 per cent.
Intel president Paul Otellini confirmed that the first quarter "came in about as we expected", adding that the company would roll out new mobile Pentium 4 processors with higher clock speeds during the coming quarter.
Intel's shares gained five per cent on the news, rising as high at $30.98 in after-hours trading, after climbing $1.40 to $29.51 in regular US trading. Sales climbed 1.6 per cent to $6.78bn from $6.68bn the previous year.
The chip maker said that profit in the recent quarter would have been $1bn, or 15 cents a share, excluding acquisition costs and expenses from settling a lawsuit.
Second-quarter revenue will be $6.4bn to $7bn, compared with the $6.67bn average estimate of First Call analysts, the company said.
RAND claims AI could enhance strategic stability by improving accuracy in intelligence collection and analysis
How NoSQL database technology and IoT sensors are being put to work saving endangered elephants and tigers
MarkLogic's David Northmore reveals how Dutch social enterprise Sensing Clues is using the latest technology to track poachers and protect endangered species
TSB IT fiasco has "all the hallmarks of an IT meltdown", claims Treasury Committee chair Nicky Morgan MP
The first appeals over Apple's Irish taxes will take place in the autumn, confirms Ireland's finance minister