Otellini's last quarter
Subject: General Tech | April 17, 2013 - 12:44 PM | Jeremy Hellstrom
Tagged: Intel, otellini, earnings
The downturn in the PC market has depressed the earnings of Intel during Paul Otellini's last quarter as head of the company, but not as badly as many companies thanks to decent sales of data centre products. Their overall earnings are down $1bn from this quarter last year with their PC sales down 6.6% but their data centre sales up 7.5% when compared to Q1 2012. The numbers are not so rosy when you look at the last year of sales, PC down 6% and data centre down 6.9%, in line with expectations but far from good news. Intel has come a long way since 1974 when he first joined the company but even they are not immune to the decline in sales which has been hurting the industry recently. Get the full sales numbers at The Register.
"After 39 years at Chipzilla and over 80 earnings calls Paul Otellini has just finished his final one before stepping down in May. He didn't so much leave with a bang as a whimper.
The company booked $12.6bn in revenue for Q1 2013, down nearly a billion from the last quarter, and profits dropped 25 per cent to $2bn, over half of which will be given out as a dividend and another $553m used to buy back 25 million Intel shares. The results were broadly in line with analyst's expectations and Intel stock is up slightly in late trading."
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