Intel Announces Earnings, Its First Smartphone Launches This Week

From DailyTech: The quarter's financials for the world's largest chipmaker were a bit quirky as last year's calendar quarter 1 had 14 weeks for Intel, while this one only had 13 weeks.

While that would account for about a 7 percent drop in revenue, Intel's actual revenue dropped 13 percent to $12.9B USD (GAAP), compared to last year's Q1 results.

Operating income, the company's non-interest earnings, came in at $3.8B/4.0B USD (GAAP/non-GAAP), while the net income -- which takes into account interest or depreciation -- was $2.74B/$2.9B USD (53 cents per share). While this was down slightly from the $3.16B USD (GAAP) (56 cents per share) that Intel grabbed last year, it was a few cents better than the analyst consensus of 50.23 cents per share.

Intel is currently fighting a two-front war against ARM Holdings plc (LON:ARM) and its alliance of smartphone/tablet rebel chipmakers, the most prominent of which is Qualcomm Inc. (QCOM). Qualcomm is moving to deploy Windows 8 RT powered ARM laptops this fall, leveraging its Snapdragon 4 platform's strong battery life and rich system-on-a-chip capabilities.

Intel looks to counter with its Ivy Bridge chip line, which is expected to ship to market in June. The new product was briefly delayed due to soft demand from system builders, which in turn was a result of components shortages attributed to 2011 Asian pressures from the Tohoku earthquake/tsunami which struck Japan and fall monsoon flooding in southeast Asia.

The K800 smartphone by Lenovo Group, ltd. (HKG:0992) that popped at the 2012 Consumer Electronics Show is finally making its way to market, powered by a 1.6 GHz 32 nm Intel Atom Z2460 processor. The phone is Intel's first, making good on the company's long overdue processes regarding its Medfield Atom sub-family.

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