Intel first-quarter profit $2.7 billion

Intel first-quarter profit comes in at $2.7 billionIntel announced first-quarter revenue of $12.9 billion and net income of $2.7 billion, or 53 cents per share. In the same period last year, the chip giant pulled in a profit of $3.16 billion, or 56 cents a share. For the current quarter Intel anticipates revenue of $13.6 billion, plus or minus $500 million, thereby besting analyst expectations of $13.43 billion, according to data collected by Bloomberg.

Intel Corporation today reported quarterly revenue of $12.9 billion, operating income of $3.8 billion, net income of $2.7 billion and EPS of $0.53. The company generated approximately $3.0 billion in cash from operations, paid dividends of $1.0 billion and used $1.5 billion to repurchase stock.