What's the damage?
Yesterday was Tax Day in the US which can mean only one thing; first quarter financial results. First on the chopping block Intel and, while the results are inevitably down year-on-year, there are so me notable quarterly improvements which can only be considered a positive sign.
Revenue of $7.1 billion is down 26 per cent year on year and 13 per cent quarter on quarter. However, while net profit is also down year on year, to the tune of 55 per cent, it has risen 176 per cent quarter on quarter.
Paul Otellini, Intel president and CEO was upbeat about the results, commenting: “We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns. Intel has adapted well to the current economic environment and we’re benefiting from disciplined execution and agility. We’re delivering a product portfolio that meets the needs of the changing market.”
Among that revenue was $219 million of Atom sales, down 27 percent on Q4 last year. To call that a sign that the netbook and nettop market is slackening would perhaps be a stretch, but I can’t help but think we must be getting close to market saturation.