In the wake of AMD's announcement that first-quarter results would be lower than expected, Intel has revealed that its revenue for the first quarter was a record-breaking $9.7 billion. That figure represents an increase of 9% compared to the first quarter of last year, and it's only 10% lower than Intel's record fourth-quarter revenue of $10.7 billion.
Looking at net income, the picture isn't quite as rosy, since Intel posted just $1.4 billion for Q1—a 12% year-over-year decrease and a 36% quarterly drop. Nonetheless, the semiconductor giant's gross margin grew by four points compared to Q1 2007, to 53.8%, and Intel says it had record revenue for server microprocessors.
Looking ahead to the second quarter, Intel expects revenue to slip to $9-9.6 billion as a result of the spinning-off of its NOR flash division. However, the firm believes its gross margin will rise to 56%, give or take a couple of points.