Business

Intel shares surge after profit boost

15:08 pm on 21 April 2011

Shares in the US company Intel have surged after the worlds biggest chipmaker's profit rose by nearly a third in the first three months of the year.

The company's profit rose 29% to $US3.2 billion in the quarter, defying fears the world's top chip maker is struggling to find its footing as personal computer sales growth wanes.

Sales jumped a quarter to nearly 13 billion.

Intel chief financial officer Stacy Smith says he expects new products to further boost growth.