Intel Results Beat Expectations
Intel results beat expectations
US chipmaker Intel has reported a better-than-expected net profit of 1bn (610m) for April to June, excluding a massive European Commission fine.Including the fine, levied for anti-competitive practices in May, the company made a loss of 398m. Revenue for the three months stood at 8bn, a 15% fall compared with 9.4bn for the same period last year. Earlier on Tuesday, banking giant Goldman Sachs also reported strong second-quarter results. “Intel’s second quarter results reflect improving conditions in the PC market segment, with our strongest first to second quarter growth since 1988 and a clear expectation for a seasonally stronger second half,” said Intel boss Paul Otellini. Computer chipmaker Intel was fined just over 1bn euros by the European Commission for anti-competitive practices. The Commission found that between 2002 and 2007, Intel had paid manufacturers and a retailer to favour its chips over those of Advanced Micro Devices (AMD). Intel said it would appeal against the verdict.
Source:BBC
