Intel Corp 1Q revenue rose 25%

PanARMENIAN.Net - Intel Corp. posted quarterly earnings that blew past Wall Street’s expectations and revenue that hit a record high. Growth in the quarter was largely driven Intel’s PC sales, which account for the vast majority of the chipmaker’s revenue.

Intel (INTC, Fortune 500) said revenue rose 25% over the previous year to $12.9 billion, topping analysts’ forecasts of $11.59 billion, CNNMoney reports.

The company’s revenue guidance for the second quarter also exceeded expectations. While analysts are forecasting $11.9 billion in revenue, Intel said it now expects to log revenue of $12.8 billion in the quarter, plus or minus $500 million.

Intel’s gross margin in the first quarter was 61% - in line with forecasts - and the company said it expects its gross margin to remain at that level in the second quarter as well, plus or minus a couple percentage points.