Intel Q1 net up by 29 % to $ 3.16 billion on higher sales

NEW YORK: Chip maker Intel Corp has reported a 29 per cent rise in net income to USD 3.16 billion in the first quarter of 2011 on higher sales across its product line coupled, with robust growth across all geographies.

In the year-ago period, the company had a net income of USD 2.44 billion, Intel said in a statement.

The company's total revenue rose by 25 per cent from year-ago period to USD 12.8 billion in the quarter ended April 2, 2011.

"The first-quarter revenue was an all-time record for Intel fueled by double digit annual revenue growth in every major product segment and across all geographies," Intel CEO and President Paul Otellini said in the statement.

In terms of geographic location, Asia Pacific was the major contributor with a total revenue of USD 7.26 billion, up 23 per cent on year-on-year basis.

Revenues from Americas operations grew by 43 per cent to USD 2.71 billion followed by Europe (17 per cent to USD 1.64 billion) and Japan (11.3 per cent to USD 1.22 billion).

The chip maker has posted growth in all the segments during the quarter. Revenues from PC Client Group was up 17 per cent and Data Center Group revenue was 32 per cent higher.

In addition, revenues from other Intel architecture group climbed 70 per cent.

Looking ahead, the company expects a revenue of USD 12.8 billion plus or minus USD 500 million in the second quarter, the statement said.

"These outstanding results, combined with our guidance for the second quarter, position us to achieve greater than 20 percent annual revenue growth," Otellini added.