Intel profits slump but future looks brighter, CEO says

14.04.2009
Intel on Tuesday reported a sharp drop in revenue and profit for the first quarter, but the company's CEO said the PC industry is showing signs of recovery.

"We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns," Paul Otellini, Intel's president and CEO, said in a statement.

The company did not provide guidance for future quarters, however, citing continued economic uncertainty.