Dear Thread,
Good News.
Intel reports lower profit, but beats Street views
"SAN FRANCISCO (MarketWatch) - Intel Corp. INTC 16.01, +0.03, +0.2%) on Tuesday
reported first-quarter net income of $647 million, or 11 cents a share, compared with
a profit of $1.4 billion, or 25 cents a share, for the year-earlier period.
Revenue was $7.1 billion, down from $9.7 billion a year ago. Analysts had expected
the Santa Clara, Calif.-based chip giant to report earnings of 3 cents a share on revenue
of $7 billion, according to a consensus survey by Thomson Reuters.
“We believe PC sales bottomed out during the first quarter and that the industry is
returning to normal seasonal patterns," said Paul Otellini, Intel president and CEO.
“Intel has adapted well to the current economic environment and we’re benefiting
from disciplined execution and agility. We’re delivering a product portfolio that
meets the needs of the changing market, spanning affordable computing to
high-performance, energy-efficient computing."
Mahmoud |
