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Intel Earnings Beat Analysts' Estimates

Intel Earnings Beat Analysts' Estimates

Intel's quarterly earnings surpassed what was expected on Wall Street, and the company also announced new Intel-based smartphones would be available in the second quarter of 2012, CNBC reports.

"In the second quarter you'll see multiple phones with our architecture inside," which includes phones made by Motorola and Lenovo, Intel CFO Stacy Smith told the news source. The company said the first phone will be shipped before April 21.

First-quarter earnings were reported to be 56 cents per share, the same as a year earlier, indicating the global computer industry is making moves toward tablets and other devices that use mobile internet technology.

Intel revenue was $12.9 billion, up from $12.85 million in the year before, and more than the $12.84 billion analysts had predicted.

According to DailyTech, although Intel's earnings topped analysts' forecasts, the number still represents a 13 percent drop from the same period last year. Intel's foray into the the smartphone market comes as more users around the world are turning their attention away from desktop PCs and to tablets and other mobile devices.

The K800 smartphone by Lenovo will be the first Intel-powered device to make its way into the market, which will be run by a 1.6 GHz Intel Atom processor.