Intel reported a steep decline on Tuesday in first-quarter net profit but the head of the world’s biggest computer chip-maker said he believed personal computer sales had “bottomed out.”
The Santa Clara, California-based company said net profit in the first three months of the year fell 55 percent to 647 million dollars compared with the same quarter last year.
Earnings per share were 11 cents, better than the three cents per share expected by Wall Street analysts.
“We believe PC sales bottomed out during the first quarter and that the industry is returning to normal seasonal patterns,” Intel president and chief executive Paul Otellini said in a statement.
“Intel has adapted well to the current economic environment and we’re benefiting from disciplined execution and agility,” Otellini said. “We’re delivering a product portfolio that meets the needs of the changing market.”
First-quarter revenue fell 26.16 percent to 7.14 billion dollars, better than the 6.98 billion dollars expected by Wall Street analysts and the 7.0 billion dollars previously forecast by Intel.
“Business sales of all types are going to be constrained for a while,” Otellini said in a conference call with analysts. “Enterprise budgets are locked down pretty tight.”
Citing “current uncertainty in global economic conditions,” Intel declined to provide a revenue outlook for the current quarter.
“For internal purposes, the company is currently planning for revenue approximately flat to the first quarter,” it said.
Intel gained 0.19 percent in trading on Wall Street on Tuesday but lost 5.25 percent to 15.17 dollars in electronic after-hours trading.
Market research firm Gartner Inc. reported last week that worldwide semiconductor revenue fell by more than five percent last year to 255 billion dollars and could face a “far worse” decline this year.
Gartner said Intel retained its number one position last year for the 17th consecutive year and increased its market share to 13.3 percent although its revenue declined 0.5 per cent to 33.8 billion dollars.
— AFP
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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