Intel’s quarterly revenue rises 2.6 percent

The logo of Intel, the world’s largest chipmaker is seen at their offices in Jerusalem, April 20, 2016.

Reuters/Ronen Zvulun/File Photo

Intel Corp (INTC.O) reported a 2.6 percent rise in quarterly revenue, boosted by strong sales of its microchips that power data centers and Internet-connected devices.

The world’s largest chipmaker, however, said its net income fell to $1.33 billion, or 27 cents per share, in the second quarter ended July 2, from $2.71 billion, or 55 cents per share, a year earlier. (bit.ly/29Utu1w)

Profit for the quarter was hit by a one-time charge of $1.41 billion related to its plan to cut 12,000 jobs.

Net revenue rose to $13.53 billion from $13.20 billion.

(Reporting by Sai Sachin R in Bengaluru; Additional reporting by Narottam Medhora in Bengaluru; Editing by Saumyadeb Chakrabarty)