Intel reports Q1 2013 revenues of $12.6 billion and net income of $2.0bn (down from Q1 2012 revenues of 12.9bn and income of $2.7bn) as it forecasts "low single-digit percentage" growth for 2013.
PC Client Group revenues fall by 6% Y-o-Y to $8.0bn, Data Centre Group revenues grow by 7.5% Y-o-Y to $2.6bbn while Other Architecture revenues drop by 9.0% Y-o-Y to $1.0bn.
"Amidst market softness, Intel performed well in Q1 and I'm excited about what lies ahead for the company," Paul Otellini says in his final earnings call as Intel CEO. "We shipped our next generation PC microprocessors, introduced a new family of products for micro-servers and will ship our new tablet and smartphone microprocessors this quarter."
The world's biggest chip makers predicts similar declines for Q2 2013 with revenue forecasts of $12.4-13.4bn, even if it hopes the Haswell and next-gen Atom launches, together with the Windows 8.1 update and new ultrabook models, will improve the situation come H2 2013.
"That scares the hell out of me. They are holding to the same ultra-bullish forecast they gave before," Bernstein Research analyst Stacy Rasgon tells Reuters. "They are presumably pretty bullish on the new products they are planning."
Go Intel forsees Q2 2013 Sales Decline as PC Market Shrinks (Reuters)
