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Saturday, 17 July 2010 19:33
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Intel posts $2.9 billion profit, sites strong demand

Intel's second-quarter profit surged past the dismal earnings reported in the same period last year.

Wall Street sign

For the quarter, which ended period ended June 26, Intel earned $2.9 billion, or 51 cents a share, one of the biggest profit showings in its history. And it was a stark contrast with the loss of $398 million, or 7 cents per share, posted a year ago. Last year's results were pushed down by a $1.45 billion charge as a result of a European Commission antitrust fine.

Analysts had been expecting second-quarter earnings of 43 cents per share.

Revenue for the world's largest chipmaker was $10.8 billion, up 34 percent year over year.

READ MORE: Cnet.com

 

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