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
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
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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