Intel Corp. (INTC) Tuesday reported first-quarter net income of $2.05 billion or $0.40 per share, down from $2.74 billion or $0.53 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.41 per share. Analysts' estimates typically exclude special items.
Net revenues for the quarter dropped to $12.58 billion from $12.91 billion last year. Analysts estimated revenues of $12.61 billion for the quarter.
Looking forward to the second quarter, Intel expects revenues of $12.9 billion, plus or minus $500 million. Analysts currently anticipate revenues of $12.87 billion for the quarter.
For the full year 2013, Intel continues to expect revenues to increase in low single-digit percentage.
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