Intel reports 4.1% rise in quarterly revenue

Chip giant expected to face questions about security flaws

Total revenue at Intel rose to $17.05 billion from $16.37 billion.  Photograph: EPA

Total revenue at Intel rose to $17.05 billion from $16.37 billion. Photograph: EPA

 

Intel, which is rushing to fix recently disclosed security flaws in its chips, reported a 4.1 per cent rise in quarterly revenue, helped by strong growth in its data centre business. The company reported a loss of $687 million (€553 million), or 15 cents per share, in the fourth quarter ended December 30th, due to an income tax expense of $5.4 billion as a result of the recent US tax reforms. The company had posted a profit of $3.56 billion, or 75 cents per share, a year earlier. Total revenue rose to $17.05 billion from $16.37 billion.

Wall Street analysts will be expected to grill Intel executives on how massive security flaws in its computer chips are affecting business.

Intel had previously said there would be no material cost to it from security flaws, dubbed Meltdown and Spectre, that were disclosed on January 3rd since both could be solved with software.

Intel’s shares were up 4.3 percent in extended trading.

The company employs 4,900 people in Ireland. Intel’s 360-acre campus in Leixlip in Co Kildare is home to one of the world’s most advanced manufacturing processes.

– Reuters