(dpa) -
Intel reported income and earnings in line with Wall Street expectations
Tuesday, calming investor jitters about how the global slowdown would affect
the world's biggest semiconductor maker.
The company reported first-quarter net income of 1.4 billion dollars, down 12
per cent from the year-ago quarter. Revenue was up 9 percent to 9.7 billion
dollars.
Operating income, before the costs of restructuring and asset impairment
charges, was 2.1 billion dollars, or 23 per cent above the same quarter last
year.
In a statement, Intel chief executive Paul Otellini said that he was was upbeat
about the company's prospects and the future prospects for the economy.
"We remain optimistic about our growth opportunities," he said,
adding that the quarterly results showed "a solid global market
environment."
Last week, Intel's main rival, Advanced Micro Devices, announced that it would
lay off 10 per cent of its workforce, citing deteriorating business conditions.