Intel Corp. on Tuesday reported net income of $3.2 billion, or 56 cents a share, up about 30 percent over the year-ago quarter’s $2.4 billion, or 43 cents a share.
Santa Clara-based Intel (NASDAQ:INTC) reported revenue of $12.8 billion, up 25 percent from $10.3 billion in the same quarter last year. One of the firm’s largest chip manufacturing facilities is located in Rio Rancho, immediately northwest of New Mexico’s largest city, Albuquerque.
Excluding items, Intel would have earned $3.3 billion, or 59 cents a share, on $12.9 billion in revenue.
Analysts expected, on average, earnings of 46 cents a share on revenue of $11.6 billion.
Intel released today that their first quarter earnings were up 30% over 2010. With Intel being one of the largest employers in the Albuquerque area, this is fantastic news.
I am often asked “where do all these people work???” as we look through homes in the rapidly growing west side and Rio Rancho. Well, many of them work at Intel. So when Intel reports positive earnings, this is good news for the entire community. Way to go Intel