An Intel sign at the Consumer Electronics Show in 2018. — AFP picSAN FRANCISCO, April 23 — US semiconductor giant Intel on Thursday said it took in more money than expected in the first quarter amid “explosive” growth in demand for computer chips.
“Intel delivered strong first-quarter results driven by exceptional demand for our leadership products and outstanding execution by our team,” chief executive Pat Gelsinger said in a release. The chip industry is seeing a cycle of “explosive growth” and this year is on track to be one of the biggest ever for personal computer shipments, according to Gelsinger.
Intel shares slipped nearly 3 per cent in after-hours trades that followed release of the earnings figures, which showed it made a profit of US$3.4 billion, a 41 per cent decline from the same quarter a year earlier.
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