Intel posts lower 1Q net income

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Reuters

File picture: Reuters

New York -

Intel says its first-quarter earnings declined, but revenue grew as it saw improvements in its PC business and solid demand for tablet processors.

Intel said on Tuesday that it earned $1.95 billion, or 38 cents per share, in the January-March quarter. That's down from $2.05 billion, or 40 cents per share, a year earlier.

Intel says its revenue grew 1 percent to $12.8 billion from $12.6 billion.

A survey by FactSet says analysts were expecting earnings of 37 cents per share on revenue of $12.8 billion.

Intel has been challenged by a shift in consumer spending away from PCs. Although Intel is the leader in making chips for PCs, it hasn't done as well selling processors for smartphones and tablets. Intel has been working to change that. - Sapa-AP


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