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Intel posts best ever quarterly results

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Wednesday, July 14, 2010

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Technology giant Intel released its second quarter results Tuesday, which were the best in the 42 years of the company's existence. The stronger than anticipated results boosted the company's share price, along with those of other technology firms.

Intel's revenues over the quarter up to 26 June were $10.8 billion, with net profit at $2.9 billion. In the same quarter last year, the company made a loss of $398 million. Its gross margin rose to 67%, higher than the forecast of 64.1%. The results were better than forecast by either Intel or outside analysts.

The company, which makes processors for around 80 percent of the world's personal computers, is thought to have benefited from an increase in demand for electronics as the world economy moves out of recession.

“Strong demand from corporate customers for our most advanced microprocessors helped Intel to achieve the best quarter in the company’s 42-year history”, said chief executive Paul Otellini.

Intel shares rose by 8% following the results. Shares in rival processor manufacturer AMD also rose by 5.5%, with other technology firms seeing similar rises. The Dow Jones index closed at 10,363.02 points, an increase of 146.75.


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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

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The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License


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