Intel set the ball rolling announcing a record EPS and revenue. It saw a 34 percent increase in profit, which hit $3.3 billion, up $830 million, and a 25 percent hike in revenue growth.
Revenue in Intel’s data centre group grew 32 percent.
Its most beneficial sales came from chips used in server systems and other hardware, raking in 32 percent of Intel’s overall revenue. Chips used in personal computers netted the company a 17 percent rise.
It boasted that it “generated approximately” $4.0 billion in cash from operations, but splashed the cash on paying dividends of $994 million, and threw $4.billion on repurchasing 189 million shares of stock.
The high figures have led Paul Otellini to have a good old gloat. He said in a statement that the first-quarter revenue was an “all-time record for Intel fuelled by double digit annual revenue growth in every major product segment and across all geographies.”
He claims that the figures should help the company reach 20 percent annual growth for 2011.
IBM had some bragging of its own to do, reporting the highest revenue growth of 10 years.
Its first-quarter profit rose 10 percent to $2.86 billion as revenue reached $24.6 billion, up from $22.86 billion.
The hardware arm helped the most. Revenues from the company’s Systems and Technology segment rang in at $4.0 billion for the quarter, up 19 percent from the first quarter of 2010, while the Systems and Technology pre-tax income was $132 million, an increase of $329 million.
When it came to the company’s z mainframe server products, it saw an increase of 41 percent compared with the year-ago period. Revenues from Power Systems increased 19 percent compared with the 2010 period, while revenues from System x increased 13 percent.
Software also fared well, putting the company quids in with $5.3 billion, an increase of six percent for the quarter.
Revenues from IBM’s “key middleware products”, which include WebSphere, Information Management, Tivoli, Lotus and Rational products, were up 16 percent to $3.3 billion, while operating systems revenues increased by nine percent to $542 million increased nine percent.
Revenues from the company’s business analytics operations across services and software segments increased 20 percent.