COMPUTER chip maker Intel has boosted revival hopes in the tech sector by revealing a near four-fold increase in first quarter profits.
The company benefited from higher sales of new chips for computer servers – the kind of purchase that many firms had delayed in the recession.
Sales rose by 44% to £6.7bn in the three months to March, enabling Intel to post net income of £1.6bn – well ahead of Wall Street hopes.
Intel, which has offices in Swindon, also raised its margin guidance for this year and said it was optimistic about prospects in 2010.
It expects to hire about 1,000 people worldwide this year, having reduced staffing numbers from 82,500 to 79,900 last year.
Intel said demand for processors for high-specification laptops was stronger than expected as firms upgraded their computers. It also reported higher consumer demand for netbooks.