Intel's first quarter financial results slightly exceeded the company's expectations, though year-on-year revenues and profits remained flat.
For the three-moth period ending March 31 Intel posted revenues of $12.9 billion, nearly identical to the prior year's total of $12.85 billion.
The company's net income for the period was $2.7 billion, slightly down year-on-year from $3.2 billion.
"The first quarter was a solid start to what's expected to be another growth year for Intel," said president and CEO Paul Otellini.
"In the second quarter we'll see the first Intel-based smartphones in the market, ship products based on 22nm tri-gate technology in high volume, and accelerate the ramp of our best server product ever, providing a tremendous foundation for growth in 2012 and beyond."