Intel Q1 Profit Tops Estimate

(RTTNews) - Intel Corp. (INTC) reported net income for the first quarter of $1.95 billion or $0.38 per share, compared to $2.05 billion or $0.40 per share for the year-ago quarter.

Revenue for the first quarter rose to $12.76 billion from $12.58 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.37 per share on revenue of $12.81 billion for the first quarter.

Looking forward, the company forecasts second quarter revenue of $13.0 billion, plus or minus $500 million. Analysts currently expect the company to post revenue of $12.96 billion for the second quarter.

Gross margin for the second quarter is expected to be 63%, plus or minus a couple of percentage points.

The company continues to expect full year 2014 revenue to be approximately flat with 2013.