The impressive swing in net income was about 10 times greater than the $234 million (4 cents per share) that the firm reported last year on January 15.
We've continued to watch in amazement as Intel seemed completely unphased by the economic downturn of 2008 and 2009:
1. January 2009: Intel beats its Q4 2008 estimates amidst negative headlines everywhere else.
2. April 2009: Intel declares, "We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns." In the first-quarter, the firm's profit far exceeded analyst views.
3. July 2009: Still swimming upstream, Intel posts its largest quarterly sequential increase in sales since 1988, further boosts its guidance for Q3 in the face of naysayers calling for lackluster Q3 growth.
4. Oct 2009: Cisco joins Intel in declaring that "Recovery Is Gaining Momentum."
And just prior to yesterday's Intel announcement you'll remember that analyst firm IDC declared that in Q4 2009, the U.S. PC "market exploded higher."