Intel achieves best second-quarter ever

Posted on Tuesday, July 13 2010 @ 23:37 CEST by Thomas De Maesschalck

Intel announced a second-quarter profit of $2.9 billion, or 51 cents per share, on revenue of $10.8 billion. The company's shares are up 8.14 percent in after-hours trading to $22.72, as the reported results are significantly better than Wall Street consensus of earnings of 43 cents a share on revenue of $10.25 billion.

Intel CEO Paul Otellini attributed Intel's best quarter in the company's 42-year history to strong demand from corporate consumers, and said demand for leading-edge technology will continue to increase for the foreseeable future.

Intel reported a second-quarter profit of $2.9 billion, or 51 cents a share, compared with a loss of $398 million, or 7 cents a share, for the year-earlier period. Revenue was $10.8 billion, up from $8.02 billion.

The company's previous year's results included a $1.45 billion charge related to a European Commission antitrust fine against Intel.

More details at MarketWatch.

About the Author

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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