Updated at 4:05 p.m. PDT with additional earnings highlights and comments from CEO Paul Otellini.
Intel's first-quarter profit fell about 56 percent from a year earlier, but Chief Executive Paul Otellini said PC sales were bottoming out.
Net income was $647 million, or 11 cents a share, down from $1.4 billion in the year-earlier period. Revenue was $7.1 billion, down about 27 percent from the $9.7 billion reported in the same period last year. Wall Street estimates were around 3 cents a share on revenue of $7 billion.
"We believe PC sales bottomed … Read more