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.