Intel reports record Q1 revenue

Intel has surprised investors and tech industry analysts alike by announcing record Q1 revenue. This comes after the company had to put aside $1 billion to sort out the 6-series chipset flaw, dampening the launch of its new Sandy Bridge processors.

Overall revenue for Q1 rose 25 per cent over the same period last year, reaching $12.8 billion, while net income rose an even higher 29 per cent to $3.2 billion.

Not only has Intel had to sort out the 6-series chipset flaws in this time, but it's also recently spent $7.7 billion in the process of acquiring anti-virus company McAfee and $1.4 billion on buying Infineon's wireless division.

Understandably buoyant, Intel president and CEO Paul Otellini said 'The first-quarter revenue was an all-time record for Intel fuelled by double-digit annual revenue growth in every major product segment and across all geographies. These outstanding results, combined with our guidance for the second quarter, position us to achieve greater than 20 per cent annual revenue growth.'

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