Intel posts record first-quarter profit

Computer chip manufacturer Intel has recorded its best first quarter results ever due to a rise in computer sales, with profits after tax rising 288% to $US2.4 billion.

Revenue rose by a massive 44% to $10.3 billion, with the company’s gross margin rising from 45% to 63%, well above market expectations. The company’s shares rose 3.7% to $US23.60.

The company is enjoying a solid run of success after releasing a new line-up of chips, the Core i3, i5 and i7 series. But as the American economy recovers, PC sales are starting to grow, boosting the company’s bottom line.

“The investments we’re making in leading-edge technology are delivering the most compelling product line-up in our history,” chief executive Paul Otellini said in a statement.