Intel storms in with net profit of $2.9 billion

Tech bellwether Intel turned in the best results for a financial quarter yet in its history.

Its second quarter revenues amounted to $10.8 billion, delivering net profit of $2.9 billion as corporate customers started buying corporate kit again.

Paul Otellini, Intel’s CEO, described the quarter as the best in the firm’s 42 year history.

He said that the PC and server segments showed healthy demand and he predicted that demand would increase in quarters to come.

Most all of Intel’s divisions performed well – the PC client group group showed record revenues for mobile CPUs, the data center group showed strong growth at 13 percent sequentially, showing record server CPU sales.

The Atom and chipset business rose by 16 percent sequentially, said Intel.

Gross margins amounted to 67 percent, higher than the firm had predicted for the quarter.

Intel made net gains from equity investments and interest of $204 million.

Intel is forecasting revenues of $11.6 billion in the third quarter, and said that gross margin was likely to remain at 67 percent.