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.
Positive outlook
“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.
Analysts were also upbeat about the second quarter results.
Ashok Kumar at Collins Stewart described the numbers as “extremely strong given the economic backdrop”, while Doug Freedman at Broadpoint Amtech said more good news was to come.
“Intel has a much stronger seasonal second half. So the fact that the second quarter is better than the first quarter clearly puts the worst behind Intel,” he said.
Earlier on Tuesday, computer giant Dell said demand from businesses remained “very weak”, but that the PC market may have reached its low point.
Intel was fined just over 1bn euros by the European Commission for anti-competitive practices.
The Commission found that between 2002 and 2007, it 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. –BBC News
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
