Intel second quarter earnings better than expected

Posted on Tuesday, July 14 2009 @ 22:36 CEST by Thomas De Maesschalck
Chip giant Intel posted a second quarter loss of $398 million on a revenue of $8.02 billion. Without the $1.45 billion antitrust fine from the EU, Intel earned 18 cents per share, beating analyst expectations of a profit of 8 cents per share on a revenue of $7.28 billion.

Sales were down 15 percent compared to the same period the year before, but Intel is optimistic about third-quarter sales:
Intel also offered third-quarter sales guidance that was $700 million higher than analysts' average estimate. It was a sign that computer manufacturers are buying more chips than expected.

Intel says it earned $1 billion, or 18 cents per share, in the second quarter, excluding the EU fine. On that basis, analysts expected a profit of 8 cents per share, according to Thomson Reuters. Including the fine, Intel lost $398 million, or 7 cents per share.
Source: AP


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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