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Intel turns in $2 billion net profit
>> From bloomberg.com:
[QUOTE]
Intel Corp., the world's biggest computer-chip maker, said second-quarter profit rose 16 percent after demand for laptops pushed sales to a record for the period.
Net income rose to $2.04 billion, or 33 cents a share, from $1.76 billion, or 27 cents, a year earlier, Santa Clara, California- based Intel said today in a statement. Sales gained 15 percent to $9.23 billion, meeting analysts' estimates.
Intel's results were driven by Centrino, a set of chips championed by Chief Executive Paul Otellini that creates wireless Internet hookups. Gross margin was 56.4 percent, narrower than an earlier forecast of 57 percent, as the company increased sales of cheaper chips for the Xbox video-game console. Intel's failure to beat estimates may have disappointed some investors said Jeffrey Kleintop at PNC Financial Services Group.
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Read the whole article on bloomberg.com.
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